<strong>NATIONAL EXPRESS</strong><br />Investec has retained its “buy” recommendation for National Express. It says that a month of high drama including takeover approaches and a profits warning has left the company fighting for its future. But the broker still believes that despite a likely break-up, the group is trading in line with its peers and therefore risks are low.<br /><br /><strong>ELECTROCOMPONENTS</strong><br />Panmure Gordon has upgraded estimates for electronic and industrial distributors Electrocomponents from “sell” to “buy”. It said that trading conditions have been tough but concerns are reflected in share prices, and sees an upside in prices and a healthy improvement in net debt and have updated their target price to 185p.<br /><br /><strong>REGENERSIS</strong><br />KBC Peel Hunt rated Regenersis as a “buy” with a price target 70 per cent above the share price at 80p, saying that an acquisition and fundraising gives the group increased scale and growth opportunities. The broker notes that there will be some earnings per share dilution but said the balance sheet is enhanced significantly.