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BEST OF THE BROKERS

<strong>SPEEDY HIRE</strong><br />Panmure Gordon yesterday said it forecasts a loss for the year for Speedy Hire, despite a reduction in debt resulting from cost-cutting measures. It reiterated its target price of 24p and reported that the company&rsquo;s outlook remains difficult, as there is little reason for investors to expect Speedy Hire to perform in the short-term.<br /><br /><strong>SHAFTESBURY</strong><br />Evolution Securities yesterday raised its target price for Shaftesbury to 415p and made modest changes to its earnings forecasts after the property firm reported a net asset value of 335p, above the broker&rsquo;s 309p estimate. Evolution adjusted its assumptions for acquisitions to around &pound;35m per year from about &pound;50m to reflect a limited supply of available sites.<br /><br /><strong>VODAFONE</strong><br />Collins Stewart yesterday reiterated its &ldquo;sell&rdquo; rating for Vodafone, despite recent highs in shares after the mobile phone firm led the post-Dubai fallout rally.&nbsp; The broker reported that the economic recovery effects will be delayed at Vodafone as unemployment spikes and tax hikes should keep consumers austere for some time.&nbsp; Its target price of 119p remains.<br /><br />To appear in Best of the Brokers email your research to <strong>notes@cityam.com</strong>