BEST OF THE BROKERS

ELAN
Credit Suisse rates the Irish drug firm as “outperform” with a target price of €8.60 (£7.56). The company posted slightly lower than expected third quarter sales, but the broker says this is entirely due to lower sales from its drug technologies division, ahead of its divestment. The company’s underlying net patient add trend was better than expected in both the US and Europe.

EURASIA DRILLING
Citi rates the Russian onshore drilling company as a “buy” with a target price of $35, reduced from $40, after cutting its earnings estimates to reflect more conservative drilling volume growth. The broker says a Russian production drive has helped growth in drilling volumes and sales, but reduces its volume forecast to five per cent in 2012 versus 20 per cent previously.

AGGREKO
Goldman Sachs rates the temporary power supplier as a “conviction buy” with a target price of 2,748p, and says a deal by rival APR Energy to launch a strategic partnership with Pratt & Whitney Power Systems is unlikely to have an effect on the company. The broker says the temporary power market offers enough business opportunities for both players, expecially in developing economies.