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BEST OF THE BROKERS

SALAMANDER ENERGY
Oriel Securities has maintained a “buy” rating on Salamander Energy after calling it one of the most active drillers in its peer group this year. Despite the announcement that Salamander was to close its Phu Kheng-1 exploration well in Thailand, Oriel says the move is broadly immaterial as it will be followed by further drilling in Laos.

H&M
Hennes & Mauritz has been upgraded to “hold” from “sell” by Standard & Poor’s (S&P) and said it expects a positive market response to the fashion retailers strong first quarter results. S&P says H&M’s gross margin dynamics are also positive and still comes above their consensus expectations. H&M had strong sales reported in March.

CHLORIDE GROUP
Seymour Pierce has given power protection company Chloride Group a “sell” recommendation as they regard Chloride as one of the quality stocks in the sector but believe that the premium is simply too high. Seymour Pierce a target price of 190p and say that the increase in the revenue line is significant for them.