Best of the Brokers for 30 October 2013

Panmure Gordon has upgraded homebuilder Redrow to buy with a target price of 294p following a meeting with the company. “The progress that this company has made in recent years under the current management team is remarkable,” said the analysts.

Greek fizzy drinks giant Coca-Cola Hellenic, now listed in London, has been downgraded by Nomura to reduce from neutral, with a target price of 1,500p. The company was recently included in the FTSE 100 but the analysts believe that the benefits of this have run their course.

Outsourcing group Serco has been downgraded from hold to sell by Shore Capital. The analysts are concerned that recent investigations into the company’s activities by the UK government could result in the loss or renegotiation of key public sector contracts.