Best of the Brokers for 29 July 2013

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S&P Equity Research has a “hold” rating and raises its target to 1,400p following the publishing giant’s first-half results. The analyst thinks Pearson’s plan to sell Mergermarket is a step in the right direction, but that the firm’s insistence on keeping the FT limits the scope of its restructuring.
UBS has upgraded the defence firm from “neutral” to “buy” and lifted its target from 210p to 215p, reflecting the stock’s underperformance compared to its sector peers. The broker thinks the budget uncertainty in the US has become less significant for Qinetiq.
Peel Hunt has a “hold” rating ahead of the media group’s first-half results tomorrow. The broker hopes to see signs of progress from ITV’s efforts to generate money from subscriptions and online services, though second-quarter advertising is likely to be down compared to last year.