Best of the Brokers for 29 October 2013

SAGE GROUP
Jefferies has upgraded the business software specialist to buy from hold and upped its target price to 380p from 320p. The broker believes the company is undervalued and that the market is focusing too much on the lack of momentum regarding the cloud.

WHITBREAD
Bank of America Merrill Lynch has raised its target price for Whitbread to 3,850p from 3,500p and kept its buy rating. The broker said it disagrees with some market opinion that the stock is “done” and believes there is still room for more given the growth outlook.

REDROW
Panmure Gordon has upgraded its recommendation for Redrow from hold to buy and raised its target price from 240p to 294p after a meeting with the housebuilder last week. The broker believes the company is poised to make significant progress over the next three years.