Best of the Brokers for 12 August 2015

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The Competition and Markets Authority’s welcome announcement this week indicating that it plans to accept remedies offered by Muller, the suitor of Dairy Crest’s liquid milk operations, has prompted Shore Capital to reaffirm its “buy” rating and target price of 603p for the dairy group.

Investec has raised its price target for Safestore by 12.5 per cent to 343p and reiterated its “buy” rating after the self-storage company amended and extended its bank facilities. The cost of debt has reduced by 50 basis points as a result, helping to drive further earnings upgrades.

Canaccord Genuity has maintained its “hold” recommendation and raised its target price to 240p from 225p after the insurer warned this week it will have to push up premiums after a surge in small injury claims in the first half. This is likely to affect its motor division’s volumes in the second half.