Best of the Brokers for 06 June 2014

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POUNDLAND
JP Morgan, which last month won the joint broking mandate for Poundland, has upgraded the retailer from “neutral” to “overweight” with an unchanged price target of 377p. The broker thinks the effects on Poundland of Tesco’s pound aisle trial are likely to be limited.

MAN GROUP
Liberum Capital has started covering 15 diversified financial firms, and has doled out a “buy” rating and a target price of 112p for Man Group. The broker thinks that despite short-term concerns about performance at Man’s GLG business, investors are in line for larger returns.

SAINSBURY
Ahead of the supermarket’s trading update next Wednesday, Shore Capital sticks to its “hold” recommendation at 324p. The broker expects like-for-like sales to have fallen by one to 1.5 per cent in the first quarter, marking six months of decline ahead of boss Justin King’s departure.