Best of the Brokers

Rachael Applegate at Panmure Gordon has downgraded the builder to “hold”, citing the stock’s 100 per cent rise this year. She says “the rating is about right”.

Matthew McEachran at N+1 Singer has increased his price target by 10 per cent to 135p, and says “buy” after a “comprehensive, confident” presentation from chief executive Michael Sharp.

Victoria Prior at JP Morgan has lowered her 2013 operating profit estimate for the card insurer by a third to £19m. However progress with a FSA investigation into mis-selling is positive.