Best of the Brokers for 12 November 2013

TULLETT PREBON
UBS has cut its target price for the money broker to 290p from 315p, and kept its rating at sell following quarterly results last week. The broker is wary of the effects of the US Federal Reserve’s potential tapering of quantitative easing on Tullett’s business.

BWIN.PARTY
Numis has kept its buy rating and 200p target for the online gambling firm. The broker thinks Bwin is at a crossroads, and that its transformational plans following a tough year could eventually see the shares recover to 300p.

HENDERSON
Peel Hunt keeps its hold rating for the investment management group, while also raising its target share price to 220p from 180p. After a better than expected trading update the broker has raised its earnings estimates but believes Henderson still trades at a premium to the sector.