Best of the Brokers for 21 September 2015

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HSBC is an attractive buy at the current price, analysts at Berenberg said. The recent sell-off in HSBC shares seems to be a case of Deja Vu, mirroring the events of 1997-8. HSBC underperformed European banks by 50 per cent over that period on Asian crisis concerns, before outperforming by 86 per cent once investors realised all banks were exposed to emerging market. Berenberg reiterated its “buy” rating.

The firm’s results for the year ending June 2015 came in below the expectations of analysts at FinnCap. The market for Petra’s diamonds continues to be weak, with demand hit by the current unsettled economic conditions in China. The US continues to be the strongest market, but demand there is weak. Yet FinnCap reiterated its “buy” recommendation but has put in under review.

This is not just any ratings call: Canaccord Genuity has bumped up its “hold” rating for the retail giant to “speculative buy”. Analysts at Canaccord expect the rollercoaster that has been M&S’ share price to continue but said the short-term risk reward looks weighted to the upside. However, they do not yet have sufficient conviction in the company’s long-term fundamentals to move to an unequivocal “buy” recommendation.