Best of the Brokers for 20 January 2014

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Canaccord Genuity has cut the asset manager from “buy” to “hold” and lowered its target from 130p to 110p. The broker expects 2014 to be another year of transition for F&C, with outflows set to stabilise.

Berenberg has started covering the maker of hinges and locks with a “buy” rating and a target of 327p. The broker thinks Tyman’s exposure to the US, where the firm makes two-thirds of its revenues, mean the group is well-positioned to benefit from a housing recovery.