Best of the Brokers for 07 March 2014

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FOXTONS
Canaccord Genuity has cut the estate agent from “buy” to “hold” but kept its target at 320p to reflect the stock’s recent strength. The broker is upbeat about Foxtons growing alongside the economy, but points out that the firm can only expand its branch network as fast as its resources allow.

RENTOKIL
Cantor Fitzgerald keeps its “buy” recommendation on the pest control firm and raises its target from 140p to 160p. The broker is convinced that Rentokil is finally out of the sick bay and into growth, but believes the market is yet to price in its recovery.

DEVRO
In spite of the market’s disappointment at Devro’s recent results, Numis upgrades the sausage casing maker from “hold” to “add” while cutting its target from 330p to 285p. The broker thinks the stock fall is overdone and that the company’s market continues to expand.