BEST of the BROKERS

AVOCET MINING
Canaccord Genuity has cut its recommendation on the gold miner from “buy” to “hold”and reduces its target price to 100p from 245p after it lowered 2012 production guidance by 15 per cent.

HALFORDS
Panmure Gordon has downgraded the retailer from “buy” to “hold” and cut its target price from 315p to 220p, as it expects it to be one of the losers from the Jubilee trading period and poor weather.

RANDALL AND QUILTER
Numis has upgraded the specialist insurer from “add” to “buy” with an unchanged target price of 130p, after it resolved disputes and gave a reassuring AGM update.