To appear in Best of the Brokers, email your research to email@example.com
The Royal Mail has become a top stock pick at Berenberg, which has started covering the firm with a “buy” rating and 700p target. The firm is “hugely inefficient in both operational and financial terms”, the broker thinks, leaving plenty of chances to unlock more value including a £1bn property sale.
UBS sticks to its “buy” rating on the building materials firm but drops its target by five per cent to 1,900p to reflect a weaker-than-expected trading update last week. With CRH picking non-core assets to sell, the broker thinks the company could be poised to bounce back.
Investors should “hold” shares in the distribution business with a target of 660p, according to Peel Hunt. The broker believes yesterday’s results from major customer EasyJet should reassure John Menzies, which is due to update on its own trading on Friday.