Best of the Brokers

UBS rates the miner “sell” and has cut its price target from 260p to 240p. The broker thinks Lonmin will hit output targets and see price growth, but the new management team have not yet done enough to ensure the firm recovers.

N+1 Singer has lowered its rating on the repairs and insurance group from “buy” to “hold”, but has lifted its target from 235p to 250p on growing confidence in the firm thanks to international expansion.

Peel Hunt has a “sell” rating and a 10p target price ahead of full-year results on Wednesday. It expects underlying earnings to have halved to £154m, and hopes to get some colour on the new team’s turnaround plan.