Best of the Brokers for 16 October 2013

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UBS has upgraded the software group from “sell” to “neutral” with a price target of 530p following a recent dip in the share price. The broker thinks the current value reflects seven per cent annual growth, and expects to see third-quarter results ahead of guidance.

Berenberg believes investors should “buy” shares in the telecoms group and has raised its target from 375p to 415p. The broker is bullish about BT’s fibre broadband business and reckons it could pick up 9m homes that do not subscribe to Sky Sports.

Numis thinks it’s time to “buy” the pub chain ahead of full-year results on 22 October, and keeps its target at 90p. The broker is predicting a rise in margins at Spirit’s managed pubs, and believe the market has underestimated the top team’s chances of driving up like-for-like sales.