Best of the Brokers for 21 June 2013

Panmure Gordon has maintained its “buy” rating for the residential property services group with a target price of 600p. Panmure believes the firm is operationally set to gain from a UK housing market recovery, and expects the rise in mortgage availability to help drive volumes.

Numis Securities reiterates its “buy” recommendation for the microchip designer despite a fall in fiscal year profit reported on Wednesday. The broker sees opportunity in strong royalty revenue growth and considers the pullback in earnings to have been caused by temporary factors.

UBS reduces its target price for the electronics retailer to 65p from 70p but keeps a “hold” rating after a 66 per cent decline in annual profits. The broker thinks that profits have now stabilised, and is confident that the firm will meet its lowered €40m pre-tax profit forecast next year.