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