Best of the Brokers for 06 December 2013

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DRAX
Barclays confirms its “overweight” rating on the energy supplier and raises the price target to 915p from 800p. The broker believes the company will pay out additional dividends after an expected change in capital structure, following progress on its biomass plants.

AMEC
Canaccord Genuity upgrades its rating on the energy and construction firm from “hold” to “buy” and puts the price target at 1,300p, up from its previous target of 1,125p. The broker thinks Amec will benefit from infrastructure investments in the UK and its diverse business interests.

JOHNSON MATTHEY
Morgan Stanley keeps its “equal-weight” rating but increases the target price from 2,890p to 3,100p. The broker thinks the company will benefit from debt reduction and better sales driven by higher demand in the recovering European markets.