BEST OF THE BROKERS

SPIRAX SARCO
RBS rates the engineering group a “hold” with an increased target price of £19.25. The broker has upgraded its full year 2010 earnings per share forecasts by four per cent following a healthy interim management statement, and sees sales growth of five per cent in 2011 with strong growth in Asia.

ASOS
Singer Research rates the online retailer a “sell” but has raised its target price 38 per cent to £10. The broker believes the firm’s US launch is going well, and that moving into other markets is key to growth next year. A rise in the firm’s spending can be explained by stocking up for this expansion, it adds.

DEUTSCHE POST
S&P rates the company a “buy” with a 21-month target price of €15. The broker believes the recent outperformance was due to a rebound in global trade, but maintains its 2010 earnings before tax and interest forecast at €2.16bn. S&P believes a successful refinancing could drive shares higher.