Best of the Brokers for 08 June 2015

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Cantor Fitzgerald reiterated its “hold” recommendation for the UK retailer. The full year results, covering the 52 weeks to 27 March, reported underlying profit before tax of £81.1m, up 11.4 per cent driven, as expected, by Halfords Retail operations.

Numis reiterated its “add” rating for the London-based engineer. Full year profit before tax (PBT) of £440.1m modestly exceeded expectations. Even though PBT growth was only three per cent, adjusted for the Anglo Platinum contract revisions true underlying growth was 15 per cent.

Panmure Gordon reiterated its “buy”arating for the travel company. It is only half way through its turnaround programme with potential for significant revenue and profit growth, yet the stock trades on an undemanding valuation of just 12 times 2015 expected earnings per share.