Best of the Brokers for 10 June 2013

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STHREE
Numis keeps its “hold” rating and 350p on the recruiter, despite second-quarter trading that came in below the broker’s expectations. Numis has lowered its full-year forecasts from £26.3m to £23.1m, noting that large customers in banking are driving a margin squeeze.

WS ATKINS
Panmure Gordon recommends that investors “hold” shares in the engineering group, and sticks to its 780p price target ahead of full-year results due on Friday. The broker expects flat pre-tax profits of around £102m and thinks the firm will improve alongside infrastructure demand.

STAGECOACH
Espirito Santo has a “neutral” rating on the transport group and estimates the fair value of the shares at 320p. The broker thinks the rise in train delays on the West Coast main line, in which Stagecoach is a joint venture partner, will not make a material dent in earnings at the firm.