BEST of the BROKERS

ASHMORE
Peel Hunt has downgraded its forecasts for the fund manager by seven and fifteen per cent in 2012 and 2013 respectively, but keeps a “buy” rating on a lower target price of 390p.

PROVIDENT FINANCIAL
Numis has downgraded the personal credit provider from “buy” to “hold” with a target price of 1,321p, saying the firm now justifies its premium valuation.

METRO
UBS has upgraded the German retailer from “sell” to “neutral” with a target price of €20, saying forecasts are more realistic and its share levels now reflect a fair valuation for the stock.