BEST OF THE BROKERS

ROCKHOPPER EXPLORATION
Goldman Sachs reiterates its conviction “buy” rating on the AIM listed oil and gas exploration company with a target price of 728p. The broker believes the current share price significantly underestimates volumes at Sea Lion, seeing a 50 per cent upside to its valuation. Goldman Sachs says significant exploration potential is also being ignored.

INCHCAPE
Nomura rates the multinational car dealer as “neutral” with a target price of 390p following its first-half results last week. The broker sees Toyota supply issues as its core concern, with some markets seeing one to three months loss of sales before a normalisation of supply in the first quarter of 2012. Inchcape has announced contract wins with VW and Porsche, suggesting an opportunity to grow its presence.