Best of the Brokers for 19 August 2013

To appear in Best of the Brokers, email your research to notes@cityam.com

OPHIR ENERGY
Canaccord Genuity has kept its “hold” rating on the oil and gas explorer but lowered its target price from 425p to 374p, saying drilling targets could stretch the firm, and that the lack of farm-out news is raising questions about industry interest.

AZ ELECTRONICS
UBS has kept its “buy” rating on the chemicals firm and upped its target price from 340p to 350p, saying its confidence in the potential for outperformance to return in 2014 has increased after last week’s first half results.

PEARSON
JP Morgan has changed its target price on the educational publisher from 1,215p to 1,225p and kept its “underweight” rating, after upping its Penguin-Random House valuation and saying medium-term prospects are good.