BEST OF THE BROKERS

ELECTROCOMPONENTS
UBS rates the electrical component distributor as “neutral” with a target price of 205p, ahead of a first half report on 14 November. With sales growth of 11 per cent year-on-year already reported, the broker expects profit before tax and amortisation to rise 19 per cent to £59.9m, and earning per share up 18 per cent to 9.3p. It expects management to raise the dividend by four per cent to 5.2p.

ADMIRAL
Nomura rates the insurance group as a “buy” with a target price of 1900p, after chief executive Henry Engelhardt gave an upbeat outlook on the company’s UK operations. The brokers says management is confident on growth prospects, with positive trends in Italian insurance, its Spanish price comparison business, and in the US, with the latter the most exciting prospect.

PERNOD RICARD
Goldman Sachs reiterates its “buy” rating on the French drinks group with a target price of €85.50, following a very positive trading update. Sales growth of 10.5 per cent was ahead of the broker’s expectations, and it now expects full year organic profit growth of 10.5 per cent for 2012, ahead of the company’s guidance of six per cent.