Best of the Brokers

ADMIRAL
Credit Suisse has cut the insurance firm’s target price to 1250p from 1300p and downgraded its recommendation to “neutral” from “outperform”. The note cited weak car growth.

MORRISON
Nomura’s rating of the supermarket giant has been slashed to “neutral” from “buy” while the target price is down to 300p from 350p. A refocused Tesco could hit Morrison’s market share.

ARM HOLDINGS
Deutsche Bank has cut the UK tech firm’s rating from “hold” to “sell” and pulled down the target price from 465p to 400p due to falling smartphone chip prices and competition from Intel.