Best of the Brokers for 14 July 2015

To appear in Best of the Brokers, email your research to

Shore Capital has downgraded IPF to “hold” from “buy”, following price capping proposals in Poland. According to the broker, this represents a major and unfortunate twist in the investment story for the group and it could have a significant detrimental impact on financial performance.

FinnCap maintains a “hold” rating with a target price of 175p on the manufacturing group. The broker downgraded its EPS forecast by 11.5 per cent in 2015, as the two main negative pressures on forecasts continue: weakness in the minerals markets and the decline in oil service demand.