Best of the Brokers for 17 July 2013

UBS increases its target price for the homewares firm to 1,030p from 825p and reiterates a “neutral” recommendation. Following higher than estimated fourth quarter results, the broker increases its pre-tax profit forecast by £1m to £108m for the current fiscal year.

Panmure Gordon raises the engineering services firm to “buy” from “hold” and upgrades its target price to 1,350p from 1,050p. The broker says the firm is best positioned amongst peers to outperform forecasts for 2015 and 2016 due to a growing bid pipeline and a strengthening balance sheet.

Nomura upgrades its rating for the home improvement retailer to “neutral” from “reduce” with a target price of 380p. The broker believes the shares offer a good vehicle for exposure to a potential UK housing recovery, given their relatively high liquidity.