Best of the Brokers for 18 July 2013

RBC downgrades the outsourcing firm to “underperform” from “sector perform” but increases its price target to 870p from 840p ahead of half-year results next week. The broker sees strong revenue growth for the year but thinks tough valuations support a downgrade.

Citigroup upgrades its rating on the insurer to “buy” from “neutral” and raises its target price to 146p from 124p. The broker sees potential for better earnings growth driven by underwriting profitability, and upcoming first half results could show signs of a turnaround in weaker businesses.

UBS increases its rating for the holiday company to “buy” from “neutral” and upgrades its target price to 180p from 145p. The broker said its fiscal year pricing growth estimates of 1.6 per cent were too conservative and increases the figure to 4.7 per cent.