Best of the Brokers for 1 October 2015

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HSBC HOLDINGS

UBS upgraded the bank from “neutral” to “buy”, and lowered the target price from 595p to 550p, reflecting earnings downgrades. The broker said it believes the relative risk/reward balance on the shares has shifted to the upside. It added: “While there are headwinds and limited obvious catalysts in the short term we do now see value in the shares.”

HARGREAVES LANSDOWN

Shore Capital sees revenue growth ahead for the financial services provider, and said it believes the operational gearing “previously so evident in the business model will be able to reassert itself to push the already-high margins up further”. The broker said that “tempted as we are to upgrade this fantastic company” it maintained a “hold” rating.