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BEST OF THE BROKERS

PUBLICIS
Execution Noble reaffirms its “buy” rating on Publicis after the advertising group reported organic revenue growth of 3.1 per cent for the first quarter, a strong improvement from the 5.4 per cent decline in the last quarter of 2009. It expects modest margin expansion, after adjusting for charges due to the acquisition of Razorfish.

AVANTI
Avanti has been issued with a “strong buy” recommendation by Charles Stanley, which says the communication group is reaching for the skies. Avanti owns licences in three orbital positions for the operation of Fixed Satellite Services. The first is scheduled for launch in August 2010 and a second larger satellite is scheduled for launch in 2012.

REMY COINTREAU
Strong full-year results from Remy Cointreau have vindicated management’s decision to move towards a fully-owned distribution system, says Evolution. The broker reiterates its “buy” rating on the drinks group and says that the strong performance of higher margin sales regions suggests upside surprise.

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