Deutsche Bank rates the brewer “hold” with a target price of £23. The broker expects to see two per cent growth in organic lager volumes when the firms releases its annual update tomorrow – a strong performance given this year’s late Easter dampening sales for the past quarter and very strong sales this time last year – and a rebound in European sales.
RBS rates the insurer “buy” and has raised its target price by 10p to 460p. The broker has lowered its full-year pre-tax profit forecast by 66 per cent to £107.1m, following a substantial hit from the Australian floods, New Zealand earthquake and Japanese disaster, but expects higher sales in the longer-term due to an increased “fear factor” in the marketplace.
Citigroup rates the retailer “buy / medium risk” with a target price of 500p. Carphone remains the broker’s top pick for the sector following an investor day with Best Buy Mobile, which represents over 50 per cent of the firm’s earnings. Best Buy plans to open 800 new standalone stores in the next five years, which the broker thinks will drive growth at the group.