Best of the Brokers for 08 May 2014

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UBS has upgraded the infrastructure firm from “sell” to “neutral” but cut its target from 260p to 225p following this week’s profit warning and the departure of boss Andrew McNaughton. The broker continues to harbour doubts about Balfour’s plan to refocus on UK and US construction.

Shore Capital has started covering the newly-listed discount store with a “hold” rating at 349p. The broker thinks Poundland can continue to expand in the UK and Europe, predicting sales growth of 11.6 per cent a year through to 2017.