Best of the Brokers for 4 July 2013

UBS raises its recommendation for the chip manufacturer to “buy” from “neutral” and maintains a target price of 970p. Concerns over Intel’s increasing market share caused a recent share pullback, but the broker has already priced the scenario into its valuations.

Shore Capital initiates coverage of the catalogue and online shopping group with a “buy” rating and a 470p target price. The broker thinks the firm has a strong core with new lines of development that should enhance its balance sheet.

Canaccord Genuity significantly upgrades the consumer product group to “buy” from “sell” and increases its target price by 33 per cent to 440p. The broker cites increased confidence in the macro outlook for both Nigeria and the UK, which account for 65 per cent of group sales.