Best of the Brokers for 30 July 2013

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Oriel has a “sell” rating and target of 340p in anticipation of disappointing first-half results for the high street baking chain on 6 August. The analysts believe that weak demand in a troubled half has led to falling trade, and have pencilled in a 25 per cent fall in profits to £12.4m.

Numis has a “hold” rating and raises its target price to 402p after the personal goods maker’s full year results last week. The analyst thinks a successful recovery year, which saw a rise in pre-tax profits and a 40th year of dividend growth, represent strong forward momentum.

Panmure Gordon maintains its “buy” rating and reaffirms its target of 518p ahead of the bookmaker’s first-half results on Friday. However, although first quarter performance was strong, the analysts believe that results were poor across all sports in July.