Best of the Brokers for 11 December 2013

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GREAT PORTLAND ESTATES
Beaufort Securities is impressed by the company’s decision to offload 20 St James’s Street for £54.5m – yet, “given the resilient demand scenario and slow growth in rental value”, maintains its hold rating on the stock with a target price of 580.5p.

KAZAKHMYS
Following the miner’s decision to sell its 50 per cent stake in Kazakhstan’s largest power station. and a warning that the Bozshakol mine would cost more than expected, Canaccord Genuity has lowered its target price from 300p to 275p. It maintains a hold rating on the shares.

LVMH
S&P Capital IQ has lifted its rating of the luxury fashion brand’s stock to buy from hold, with a target price of €146, following the €2bn acquisition of major Italian cashmere clothing brand Loro Piana. “We think this is a logical extension into attractive ultra-high-end apparel,” it says.