Best of the Brokers for 18 December 2013

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Panmure Gordon has downgraded the online fashion store from a buy to a hold rating,but as increased its target price from 5,950p to 6,126p. After a 124 per cent rise in the share price this year, Panmure thinks this momentum is unsustainable, particularly given uncertainty in China.

Barclays rates the insurer underweight with a target of 101p following the firm’s capital shortfall and subsequent credit downgrade from S&P. The broker is worried that RSA has little choice but to raise equity to plug the gap in its finances.