Best of the Brokers for 22 November 2013

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UBS has cut the copper miner from buy to neutral and slashed its target price from 965p to 870p after disappointing third quarter results. UBS expects that copper prices will fall by 12 per cent in 2014 and that this downward trend will continue until 2017.

Ahead of Paragon’s results on 26 November, Peel Hunt is advocating a buy stance for the financial services provider, a change from hold. Peel Hunt has also increased its target price from 339p to 409p and predicts a “steady flow of positive news over the coming months”.

Numis maintained a buy stance for Spirit Pub and increased its target price to 100p from 76p. The broker found that Spirit Pub, along with Fuller Smith & Turner, offers the most potential benefits from expansion in the leisure sector, thanks to its food offering.