Best of the Brokers for 17 June 2013

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UBS has upgraded the property group to “buy” from “neutral” and reduced its target price to 600p from 620p. The broker said the group’s strong annual results driven by valuation improvements should continue into next year, and the recent decline in share price provides an opportunity to buy.

Numis Securities has reiterated its “hold” recommendation on the catering and support services firm with a target price of 850p after last week’s shareholder conference. The broker has faith in a strong management team and confidence in future revenue growth despite a tough environment in Europe.

Espirito Santo has kept a “buy” rating on the student housing firm and increased its target price to 381p from 371p following a share placing to raise £51m. The broker thinks the proceeds from the placement, to be used for a regional development programme, could lift the firm’s net asset value.