Best of the Brokers for 21 November 2013

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EASYJET
HSBC has raised its rating from “underweight” to “neutral” and lifted its target from 1,225p to 1,375p, admitting that it had worried too much about the airline’s results. While the broker thinks competition is growing in low-cost travel, it adds that EasyJet is so far only slightly affected.

DIAGEO
Canaccord Genuity keeps its “hold” rating on the drinks firm but cuts its target by 50p to 1,950p following an investor day. The broker continues to see the long-term strength of Diageo’s brands but raised concerns about price pressures and changes to forecasting practices beyond 2014.

ITV
Nomura sticks to its “buy” rating and has raised its target by 10p to 210p following a trading update earlier this week. The broker is impressed by strong advertising momentum over the last quarter, and thinks the continued economic recovery can only improve sales.