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BEST OF THE BROKERS

<strong>HALFORDS GROUP</strong><br />Ahead of Halfords&rsquo; second-quarter trading update on 8 October, Investec upgraded its forecasts and its target price to 435p, from 400p. The broker believes a combination of better weather and more &ldquo;staycations&rdquo; than last year will deliver a more robust performance than previously expected, and says &ldquo;buy&rdquo;.<br /><br /><strong>WM MORRISON</strong><br />Jefferies International upped its target price for Morrisons to 340p, from 330p, and upgraded its earnings estimates by four per cent, confirming its confidence in the firm&rsquo;s mid-term margin growth. The broker has a &ldquo;buy&rdquo; rating on the stock, but said that the main risks include a cut in consumer spending.<br /><br /><strong>MICRO FOCUS</strong><br />Goldman Sachs upgraded Micro Focus to &ldquo;buy&rdquo; following a significant share price weakness as it believes the risk-reward ratio is compelling at 4:1. The broker believes the analyst&rsquo;s day on 28 September will be a key positive catalyst, with the company highlighting attractive medium-term growth opportunities.