<strong>REGUS</strong><br />Panmure Gordon downgraded its recommendation from “buy” to “hold” as the firm’s shares inch towards the broker’s target price of 81p after a strong run. The company will come into focus next week when it reports its interim results and Panmure expects pressures to emerge in occupancy and pricing, and is tempted to lock in some short-term profitability.<br /><br /><strong>WPP GROUP</strong><br />JP Morgan expects WPP to report weak first half results next Wednesday, including double-digit organic revenue declines in the second quarter similar to peers, with severe margin compression. The broker reiterated its “neutral” rating on the stock, reduced earnings per share estimates to 17.2p, and increased its price target to 450p.<br /><br /><strong>LIBERTY INTERNATIONAL</strong><br />Bank of America Merrill Lynch said Liberty has done enough to weather the downturn as the UK property cycle is bottoming out. However, with its adjusted earnings per share in the 17p-19p range for the next two years, the broker said the earnings yield is hardly compelling. But it added that the risks have shifted enough to upgrade the stock to “neutral”.