Best of the Brokers for 07 November 2013

MEGGITT
Cantor Fitzgerald has upgraded its recommendation for the engineering firm from “hold” to “buy” and raised its target price from 520p to 590p. The broker said it was impressed by efforts to improve operating metrics and that the reaction to last week’s profit warning was “severely overdone”.

RSA INSURANCE GROUP
Canaccord Genuity has maintained its “hold” recommendation on the insurance giant and cut its target price from 120p to 115p, after the firm lowered its full-year guidance. The broker has now cut its own full-year earnings per share forecast on the stock by 22 per cent.

LONDON STOCK EXCHANGE
Numis has maintained its “hold” recommendation on the bourse and retains its target price of 1,505p. “We continue to believe the offers good long term value and we think the group has done well in diversifying its base of assets, improving its strategic position,” said the analysts.