BEST OF THE BROKERS

VODAFONE
Credit Suisse rates the telecoms group “outperform” with a target price of 185p. The broker has cut its medium-term earnings per share forecast by three per cent in light of recent results in the sector, and expects European operations to miss consensus estimates – this is particularly disappointing given the expected boost from iPhone sales. However, Credit Suisse thinks US and Indian sales will beat forecasts to push Vodafone ahead of its rivals.

RIGHTMOVE
JP Morgan Cazenove rates the property website “overweight” and has lifted its target price from £11.10 to £12.71. The broker thinks it is too early to take profits from Rightmove’s recent share price rise and continues to see growth in revenues per advertiser. JP Morgan forecasts a five per cent rise in house prices and values in 2012, after a flat 2011, and thinks if market conditions improve enough, Rightmove shares could reach up to £14.50.

CENTRICA
Goldman Sachs rates the energy group “buy” with a target price of 460p, a drop of 11p following Monday’s trading update. The broker thinks that despite a hike in gas taxes, Centrica’s earnings will rise thanks to higher wholesale gas and power prices. Goldman expects the firm to return some cash to investors if it decides not to spend money investing further in the North Sea or in new nuclear projects.