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BEST OF THE BROKERS

NOVAE
Execution Noble has maintained a “buy” recommendation for insurance company Novae following its recently announced initiatives to improve the group’s return on equity. It expects Novae to emerge as a stronger player in the sector over the next 12-18 months. The group has had no material exposure to the Chilean earthquake.

CAPITAL & REGIONAL
Capital & Regional has been given a “buy” recommendation by Numis Securities and a target price of 50p. Numis says that Capital & Regional has navigated through a challenging series of bank refinancing, fund-level capital raises and asset sales and believes the focus has shifted from survival to growth.

GAME GROUP
BNP Paribas has issued a “sell” rating on Game Group as the retailer’s share price has rallied by 31 per cent from the lows of March, and has caught up with BNP’s once seemingly optimistic price target. BNP says that the market is braced for a sharp fall in profits year when Game reports its financials on Wednesday.

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