Best of the Brokers

HANSTEEN HOLDINGS
Peel Hunt rates the real estate investment trust “buy” and has a 79p target. The broker sees last week’s £60m industrial property acquisition as a classic deal for the firm, with low capital values and high yields coupled with asset management opportunities.

VOLVO
Morgan Stanley rates the carmaker “overweight” with a target of SKr105. The broker cheers the Swedish firm as a play on self-help potential and a cyclical rebound over the medium term, despite production cuts and disappointing profits expected in the coming quarter.

AVIVA
Panmure Gordon thinks the insurer is well positioned for 2013 following the £1.1bn sale of its US business last month, which has strengthened the balance sheet and will help maintain the dividend. The broker also believes the firm will benefit from having a narrower focus.