BEST OF THE BROKERS

BURBERRY
Standard & Poor’s rates the retailer as a “hold” with a target price of £10.60 after in-line half-year results. The broker believes Burberry’s increased sales in non-apparel play to its model as a luxury brand, but does not expect any significant consensus upgrades and believes the rise in GDP could hamper its future performance.

BRITISH LAND
Numis rates the real estate group “hold” with an increased target price of 535p. The broker believes there is only limited upside potential from internal asset management, given the already strong land portfolio, and that peers Land Securities and Great Portland have greater scope for growth as rents start to pick up.

VODAFONE
Evolution Securities has downgraded the telecoms giant to “reduce” from “neutral” but has increased its target price to 168p from 162p due to favourable currency moves. The broker says the £3.1bn gained from selling Japanese operator Softbank was a positive surprise, but that the struggling economy could hit sales.