Best of the Brokers for 20 May 2014

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AVEVA
Westhouse has started covering the engineering and design group with a “neutral” rating and 2,260p target price. The broker reckons Aveva is well-equipped for steady growth in both of its businesses, but believes the shares are fairly valued already.

BURBERRY
Barclays keeps its “equalweight” rating and 1,550p target ahead of the fashion brand’s full-year results tomorrow, the first set of figures from new boss Christopher Bailey. The broker expects to get an update on the firm’s Japanese business and the effects of currency movements.

LADBROKES
Goldman Sachs raised its target price for Ladbrokes from 112p to 120p but held a “sell” rating as it says the government’s measures on betting machines will have limited impact on listed UK retail bookmakers. The broker said it thinks the likelihood of further regulation is low.