BEST OF THE BROKERS

TED BAKER
Numis rates the fashion retailer as a “hold” with a target price of 700p, after a strong performance from the brand over Christmas trading. The broker says this was achieved despite no significant pre-Christmas discounting, but will not be chasing the stock due to a share price of 15x earnings.

EROS INTERNATIONAL
Investec rates the movie producer and distributor as a “buy” with a target price of 315p, and adjusts its figures slightly to account for rupee/US dollar weakness. The broker says its focus is on Indian entertainment growth and Eros’s strong operational delivery, as well as film and digital prospects.

CAPE
Panmure Gordon rates the energy services firm as a “hold” and raises its target price on the stock to 410p from 350p to reflect forex changes, a change in the valuation year and a recovery in revenue at its struggling Gulf segment. The broker also raises its earnings per share estimate by six per cent for 2011.