Best of the Brokers for 13 May 2015

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THE RESTAURANT GROUP
Berenberg said The Restaurant Group now looks undervalued against peers such as Domino’s Pizza, Greggs and Patisserie Valerie and reiterated its “buy” recommendation. The broker also kept a target price of 800p on the stock, which it said offered an upside of around 14 per cent.

PROCTER & GAMBLE
Canaccord Genuity has cut its full-year earnings forecasts due to currency exchange headwinds and said it remained uncertain about the consumer goods group’s long-term strategy once its underperforming brands have been sold. The broker, however, kept its “hold” rating and target price of $89 unchanged.

THOMAS COOK
Credit Suisse has upgraded tour operator Thomas Cook to from “neutral” to “outperform”, and forecasts a stable and improving outlook for the group. It has also increased its target price for the shares from 159p to 180p.