Best of the Brokers for 26 September 2013

GREENCORE
Numis has given food company Greencore an “add” recommendation and lifted its target price to 153p ahead of its 26 November full year report. The analyst said plus points include “the absence of the horse meat issue and possible improvement from UK cakes & desserts.”

TESCO
Shares in Tesco fell 3.5 per cent yesterday, with traders citing JP Morgan’s downgrade of the retailer to “underweight” from “neutral” as the catalyst. “We believe the UK food retailing industry has structural problems, and think Tesco will be most impacted,” JP Morgan wrote.

QUINDELL PORTFOLIO
Cannacord Genuity rates Quindell a “buy” and has raised its price target to 41p after the technology firm bought a 22.5 per cent stake in Nationwide Accident Repair Services (NARS). Although shares are up 70 per cent since late July, the broker says they are still “cheap”.