Best of the Brokers for 11 April 2013


AZ Electronic Materials

UBS has upgraded the specialised chemicals maker from “neutral” to “buy” and cut its target price from 390p to 340p. While the broker is concerned about parts of the firm’s trading update this week, it feels the subsequent dive in the share price has been overdone. UBS also thinks AZ has a robust pipeline of new products and is a leader in many of its products.


St James's Place PLC

Morgan Stanley has an “equal-weight” rating on the wealth manager and has raised its price target from 458p to 497p following strong full-year results. The broker thinks St James’s is well-placed to gain market share after the retail distribution review. Morgan Stanley also forecasts net inflows in excess of 11 per cent of the opening funds under management.


Surgical Innovations Group PLC

Panmure Gordon has started covering the surgical equipment maker with a “buy” rating and a price target of 6.6p. The broker thinks the company’s strong fundamentals will help it recover from a share price drop in recent months, with world-class research and development a particular highlight. Growth into US markets could also propel the firm’s share price higher, Panmure adds.