Best of the Brokers

TESCO
Espirito Santo has downgraded the supermarket giant from a “hold” guidance to a “sell” and cut the price target from 300p to 275p, warning of a drop in profit margins.

CWC
Barclays has upgraded the telecoms firm to an “equal weight” rating, and upped its target by 32 per cent to 41p following CWC’s recently announced sale of its Monaco business.

HARVEY NASH
Panmure Gordon has moved from a “hold” to a “buy” and slightly increased the recruiter’s target from 64p to 66p. It says Harvey Nash is staving off the effects of a wider decline in the industry.