BEST OF THE BROKERS

BAE SYSTEMS
Execution Noble retains a “hold” rating on the defence giant, with a fair value price of 325p. The broker has looked at the possible outcomes of the UK strategic defence review out in October, and believes the firm will see EPS rise once the spending cuts are made public.

WM MORRISON
Seymour Pierce rates the grocer a “hold” with a target price of 291p ahead of its first half results on Thursday. The broker predicts pre-tax profit will rise 13 per cent to £400m, with EPS of 10.2p, which is slightly below consensus forecasts.

AGGREKO
Canaccord Genuity has begun coverage of the temporary power supplier with a “hold” rating and a target price of £14.65. The broker believes the firm’s outperformance of the FTSE 100 this year is due to one-off jobs, and that Aggreko is now entering a quiet period.