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BEST OF THE BROKERS

MAN GROUP
Execution Nobel has initiated a “buy” recommendation on Man Group as it says the global investor is well placed to build its long short capability with $1.5bn of surplus cash and its track record of successful acquisitions. Execution Nobel says that Man Group’s performance will bounce back and the risk reward ratio is favorable.

INTERMEDIATE CAPITAL
An upgraded recommendation on Intermediate Capital Group has been given by Evolution Securities who move from “add” to “buy”. Evolution Securities say they expect the balance sheet to prompt a sharp recovery in 2009/10 and another solid year in 2010/11. The balance sheet should drive healthy returns.

REDHALL
BD Investment has initiated a “buy” recommendation on Redhall and has given the energy group a target price of 182p. Energy accounts for 60 per cent of profits and offers exciting growth potential in nuclear and renewables. Management is ambitious, has a longer term aspiration to create a £500m revenue business.