Best of the Brokers

RBS
Investec has cut the bank from “hold” to “sell” with a price target of 245p. The broker believes RBS’s return on equity is too weak to prop up its current share price.

ADMIRAL
Espirito Santo has lowered its rating to “sell” with a fair value price of 900p. The broker thinks the insurer is under increasing pricing pressure in the UK market.

UNILEVER
UBS has upgraded the consumer goods group from “neutral” to “buy” with a raised target of €30. Unilever is finally getting its food division into a position of strength, the broker points out.