Best of the Brokers for 06 November 2013

Westhouse Securities has downgraded the FTSE 250-listed gold miner from a “neutral” to “sell” recommendation after strong third quarter results caused a share price rally. It has increased its target price on the stock from 115p to 170p, after raising its gold price forecast for the year.

Numis has initiated coverage of the housebuilder with a “buy” recommendation and a target price of 217p, as it believes its significant exposure to residential land makes it an interesting investment. The target price could increase to 240p if UK house prices rise by 10 per cent.

Investec is maintaining its “buy” recommendation on the budget airline, whilst downgrading its target price from €8.00 to €6.20. “Despite steep earnings forecast declines, the group remains a highly competitive and cash-rich entity,” said the broker.