Best of the Brokers for 02 June 2014

To appear in Best of the Brokers, email your research to

N+1 Singer has lowered its target price on the online fashion retailer from 5300p to 4100p but maintained its “hold” rating on the stock. The broker is concerned that the group’s sales growth rate in overseas markets is under threat, and has lowered its revenue estimates.

Westhouse has upgraded its recommendation on the Nigeria focused explorer to “neutral” from “sell” and increased its target price from 104p to 123p, pricing in the successful delivery of its revised plan for its OML 40 licence in the Niger Delta.

Barclays has downgraded the B&Q owner to “equalweight” from “overweight” and lowered its target price to 420p from 460p, due to weak sales at its chain of DIY stores despite the recovery in the UK housing market. The broker also says recent UK market share losses are not encouraging.