BEST of the BROKERS

HISCOX
JP Morgan has raised its price target on the insurer from 420p to 430p with a “neutral” rating, saying it should appeal to investors seeking exposure to a Lloyd’s speciality insurer with a low risk profile, that is more defensive than some of its peers.

WOLSELEY
Berenberg Bank has maintained its “buy” recommendation on the plumbing supplier and raised its target price from 2,300p to 2,600p, seeing further benefit to come from internal improvements designed to grow market share.

IMPERIAL TOBACCO
Nomura has raised its target from 2,184p to 2,197p and kept its “neutral” rating on the tobacco group. The broker forecasts adjusted earnings per share of 93.4p for the first half.