Best of the Brokers for 02 May 2014

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UBS has upgraded the bank from “neutral” to “buy”, upping its target price from 280p to 305p. Following reports that Barclays is setting up a bad bank, the broker believes Barclays’ management is showing willingness to shift away from loss-making parts of the business.

Shore Capital tells investors to “sell” shares in the supermarket chain, setting the target price at 201p. The broker thinks Morrisons’ £300m investment in price cuts will prompt its competitors to follow suit, maintaining poor and unstable conditions for investment in grocery firms.