BEST OF THE BROKERS

INTEGRA GROUP
Morgan Stanley rates the Russian oilfield services provider as “equal-weight” and lowers its target price of $2.80, implying an 18 per cent upside. The broker says the company’s first-half results were in line with expectations, reporting adjusted Ebitda of $56m and revenues of $444m. Integra’s acquisition of Siam Company for $76m, should complement its tech services division, but cost pressures mean limited scope for share price increases.

IG GROUP
UBS has upgraded its forecasts for the derivatives trader, rating it as a “buy” with a target price of 510p. The broker thinks IG could beat expectations when it gives a trading update on 13 September, thanks to ongoing higher than average volatility. UBS views IG as a strong stock in the spread betting sphere, with a rapidly growing overseas business and a cash positive position giving a good dividend yield of 4.7 per cent.

FILTRONA
JP Morgan has downgraded the plastics supplier to “neutral” with a target price of 366p, but has raised its estimates for the year by seven per cent due to outperformance in the first half. Despite uncertainty in the market, Filtrona’s order book has remained strong and management has maintained its focus on acquisitions. However, JP Morgan sees the stock as fully valued and reckons there are better growth opportunities elsewhere in the sector.