Best of the Brokers for 04 June 2014

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SCHRODERS
Espirito Santo has initiated coverage of the asset manager with a “buy” rating and a target price of 2,991p, calling it the “best in show” and the highest quality quoted asset manager in the UK. The broker expects Schroders to outperform its peers on net flow rates and shareholder returns.

BEAZLEY
Berenberg has upgraded the insurer from “hold” to “buy” and increased its target price from 245p to 278p, noting that its impressive return-on-equity track record has beaten its peers in the Lloyd’s market in the last two years and so deserves a premium rating.