Best of the Brokers for 01 April 2015

To appear in Best of the Brokers, email your research to notes@cityam.com

LONDON STOCK EXCHANGE GROUP
Numis reiterated its “hold” rating on the international exchange group, describing it as a “great company, and noting that the shares “have had a very strong run”. However, the broker added that, while it continues to believe in the firm’s strategy, it does not see value at this time.

PETROFAC
Canaccord Genuity downgraded the oilfield services firm from a “buy” to a “hold” rating. The broker said it was sceptical of a return to growth in the company’s engineering and construction business, citing a slowdown in revenue growth and “part margin and mix pressure”.