Best of the Brokers for 8 July 2015

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Panmure Gordon has cut its target price to 114p from 130p and reiterated its “sell” rating. The broker said it expects AO World’s first quarter update on 21 July to show that it will struggle to meet full‐year market expectations, with web traffic continuing to deteriorate on its sites.

Analysts at UBS have upgraded their recommendation to “buy” from “neutral” and raised the price target to 1,425p from 1,300p. The bank said it sees a buying opportunity, with the stock is trading at a 14 per cent discount its March 2016 forecast of 1,426p.

Canaccord Genuity has raised its target price for the stock from 228p to 264p with a “buy” recommendation. The broker said there was a correlation between Foxtons’ share price and the number of London house sales. If sales are rising in the second half, Foxtons’ share price should also rise, it said.