Best of the Brokers for 23 July 2015

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AO WORLD
Canaccord Genuity downgraded the household appliance retailer from a “hold” to a “sell” recommendation following a “disappointing” first quarter update. The broker said it had cut growth rates and forecasts due to “increasing concerns on the prospects for the UK business”.

MITCHELLS & BUTLERS
Numis upgraded its rating on the hospitality business from “hold” to “add”, following an 18 per cent decline in the share price. The broker said there should be “limited downside to forecasts, but medium-term upside if the company’s operational efforts gain traction”.

SSE
Whitman Howard reiterated its “hold” recommendation on the utility firm ahead of today’s trading statement. The broker said: “Overall, we still see the shares as slightly expensive at these levels, although the final dividend is attractive in the very near term.”