Best of the Brokers for 06 July 2015

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888
Canaccord Genuity raised its rating for the online casino company to “buy” from “hold”. 888 reports results in late August, and while declining profits are expected by Canaccord, the broker expects that the underlying picture will be much more positive.

SERCO
Berenberg reiterated its “sell” rating for the British outsourcing company. A recently improved performance is mainly due to Serco’s asylum seekers contracts in the UK and Australia, which are inherently volatile, Berenberg said. Target price was lowered to 100p (from 130p)

BP
S&P Capital upgraded its “sell” rating for the London-listed oil giant to “hold”. The cumulative pre-tax charge for the Deepwater Horizon spill is now $54bn. This is viewed positively as the civil penalty is lower than the maximum and should allow BP operations to continue.