Best of the Brokers for 17 April 2014

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EASYJET

Investec sticks to its “buy” rating on the budget airline and has a target of 1,800p ahead of first-half results on 13 May. The broker reckons EasyJet has more scope to expand its market and increase ancillary revenues with allocated seating, and is forecasting losses of £60.8m for the half.

DEBENHAMS

Deutsche Bank keeps its “hold” rating and trims its target from 80p to 76p following the clothes retailer’s first-half results this week. The broker frets that Debenhams’ decision to cut the number of promotions could damage its market share.

IMPERIAL TOBACCO

Panmure Gordon tells investors to “hold” shares in the tobacco group and has raised its target from 2,300p to 2,500p in light of the firm’s factory closures. The cuts will reduce costs, while improving European economies could start buying more cigarettes soon, the broker thinks.