Best of the Brokers

HAMMERSON
Investec has upgraded the group to “hold” from “sell” and raised its target price to 465p from 415p, given Hammerson’s “improved prospects” as it exits the office market to become a pure retail REIT.

QINETIQ
UBS raised its target price from 180p to 190p but kept its “neutral” rating, saying the uncertainty around the US defence budget and its potential impact on the company still looms.

JARDINE LLOYD THOMPSON
Panmure Gordon has downgraded JLT from “buy” to “hold” and with shares now trading close to its target price of 775p target price, it now views them as fully valued.