Best of the brokers

ADMIRAL GROUP
Goldman Sachs yesterday upgraded Cardiff-based insurer Admiral from “neutral” to “buy”, sending the company’s share price up five per cent. The banking giant said the stock had underperformed over the last six months due to “softening premium rates and regulatory intervention” but it now presents an investment opportunity, as there is “potential for claims inflation to decline faster than the market anticipates”.

HENDERSON GROUP
Shore Capital have upgraded money manager Henderson Group to a “buy” from “hold” with a target price of 151p, following the settlement of legal claims against the fund manager last week. A group of investors sued the firm in 2009 for misrepresentation of mandate after poor performance. Last week the claim was withdrawn, leading Shore to re-rate the group citing its “attractive” fund positioning

UNILEVER
Investec analysts have upgraded Unliver from “hold” to “buy” ahead of the consumer giant’s fourth quarter results tomorrow and raised its target price from 2400p to 2800p. Investec said the principle catalysts for choosing to upgrade the stock are the potential for margins to surprise on the upside in 2013 and a belief that Unilever’s developing market business is still being undervalued.