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BEST OF THE BROKERS

HMV
Singer Capital Markets has maintained a “buy” recommendation on HMV despite the group posting reported interim results at the lower end of its expected performance.
It said disappointment in Waterstones could be offset by growth of sales in other areas and cost savings at HMV. It set a target price of 174p.

INTERCONTINENTAL HOTELS
Panmure Gordon downgraded InterContinental Hotels Group to a “hold” on Friday, after strong share trading near its target price of 910p. It was in favour of Whitbread’s Premier Inns UK chain, as IHG has its majority stake in a cautiously recovering US hotel market compared to the more favourable UK hotel scene.

BOVIS HOMES
Killik & Co initiated coverage of Bovis Homes with a “buy”, claiming good medium to long-term prospects of the UK housing market, with a finite supply of land and a growing population likely to put pressure on house prices.
It said Bovis Homes has nearly a third of its exposure in the resiliant South East.