Best of the Brokers for 31 October 2013

TMOV

TMOVE
Canaccord Genuity has raised its price target on the online real estate portal to £30 and maintained its buy recommendation. The analysts said that they expect UK estate agents to reinvest a large proportion of their additional revenue in marketing spend, via sites such as Rightmove.

TULLOW OIL
Investec has upgraded oil and gas explorer Tullow Oil to hold but reduced its price target to 925p from 940p. The analysts think that Tullow’s cashflow strength and exploration competency are superior to its peers but overstated and overvalued by the market.

HALFORDS
Barclays has maintained its equal weight rating on the car parts retailer, but raised its price target from £3.30 to £3.60. “We applaud management’s initiatives to transform Halfords into a service-led business but we are a bit more sceptical about the firm’s valuation,” said the analysts.