Best of the Brokers for 19 May 2015

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SMITHS GROUP (SMIN)
Panmure Gordon reiterate its “Sell” rating on the group, with a target price of 880p. Smiths outlook statement will detail higher-than-expected decline in John Crane and Interconnect and a reversal in Flex-Tek, offsetting expected improvement in Medical and Detection.

BOVIS HOMES (BVS)
Shorecap analysts keep Bovis as a buy, with a 1,048p target price. Typical of a first quarter trading update there was little to change the forecast landscape for Bovis. We have no reason at this stage to review our fractionally above consensus PBT forecast.

COCA-COLA HBC
Numis downgrade the stock to “Reduce” from “Hold”, with a 1,246p target price. The first quarter results were solid, although the waters were muddied by 6 extra selling days and the early Easter holidays. The expected forex 'hit' factor in 2015 has been cut to €140m.