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BEST OF THE BROKERS

BAYER
Citigroup reiterates its “buy” rating on Bayer. It says that although some risk-aversion in the run up to the release of Xarelto data is likely to remain a feature of the share price performance, it remains positive on this asset and on the stock and believes the current valuation provides an attractive long-term buying opportunity.

BRITISH LAND
UBS has upgraded its recommendation on British Land from “neutral” to “buy” after the property development group saw strong growth in the fourth quarter. British Land warns that property capital growth may be more muted this year but UBS believes the group’s retail portfolio should be resilient and London will improve.

NATIONAL EXPRESS
Nomura has issued a “buy” rating on National Express saying that after a detailed review of operations, there appears to be substantial potential to increase margins, combined with opportunities to stimulate revenue growth in UK and in the US. Successfully executing these plans should deliver strong earnings, it says.