Best of the Brokers for 7June 2013

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THE RESTAURANT GROUP
Jefferies upgraded its price target for the owner of Frankie & Benny’s restaurants to 575p from 500p and maintains a “buy” recommendation. The broker backs a valuation premium as the group outperforms the sector in high returns, growth rate, and balance sheet strength.

POLYMETAL
Cannacord Genuity reiterates its “buy” rating and a target price of 920p for the precious metals miner. The broker thinks the firm’s recent “impressive” high-grade gold intercept findings positively impact its Maminskoye development project in Russia.

KINGFISHER
Numis Securities downgraded the B&Q parent company to “hold” from “add” with a target price of 370p. Despite the firm’s strong fundamentals, the broker points out that a recent share rally has closed a valuation discount to the sector.