Best of the Brokers for 14 April 2015

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DIAGEO
Shorecap has reiterated the “hold” rating for the drinks giant with a target price of 1,923p a share. Analysts continue to see the firm as being in transition under boss Ivan Menezes, and said this will involve further short-term pain in return for a stronger business model.

VIRGIN MONEY
Berenberg has initiated coverage on Virgin Money with a “hold” recommendation and a price target of 400p. Analysts estimate 45 per cent growth in Virgin Money’s mortgage book by 2018, and credit card balances growing from £1.1bn to £3bn by the same year.

KIRKLAND LAKE GOLD
Panmure Gordon have reiterated its “buy” rating, with a target price of 353p a share. The broker said the company’s increased exploration of the last year had paid off, and noted that Kirkand has not only replaced mined ounces but also increased its reserve base.