Investec rates the food maker “hold” with a target price of 35p. The broker believes Premier has made itself investable again following a balance sheet restructure, although the stock is seen as a long-term play due to short-term trading headwinds that will make it difficult for the firm to meet its cash generation targets this year. Investec thinks the firm’s shares can rise above 50p if it can deliver strong trading and cash flow.

RBS rates the oil firm “buy” with a target price of 650p. The broker has upgraded its core net asset value estimate from 470p to 512p due to lower debts and thinks the company is trading cheaply. RBS views Valiant as one of the best oil performers during 2011 so far, and estimates that the company will not pay UK cash tax until 2015 and therefore should not suffer from the surprise oil tax hike for some time.

Nomura rates the advertising group “buy” with a target price of £10. WPP is aiming for a higher-than-expected 13 per cent margin in its market research division by 2013, the broker reports after meeting with management at an investor day. The firm also sees no threat from new media owners such as Google, and expects to see five per cent organic growth across the group in 2011.