Best of the Brokers for 25 April 2014

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HSBC has lowered its rating on the property firm to “neutral” from “overweight” with a target of 630p, up from 600p, to reflect a recent strong run for the stock. The broker is still impressed by Hammerson’s improving retail outlets and thinks the firm is carrying less debt than its peers.

Panmure Gordon thinks the retirement firm still deserves a “buy” rating and has upped its target from 187p to 225p after recent changes to pension rules. The broker thinks Just Retirement can offset the expected 65 per cent fall in annuity purchases with defined benefit and other new work.