<strong>TARSUS</strong><br />KBC Peel Hunt has moved to a “Hold” recommendation on media group Tarsus after recent interims. It says fundamental trading is modestly better in the current year than expected. Shares have rallied to 114p above their target price of 111p and for this reason recommendations for shareholders switch from “Sell” to “Hold”.<br /><br /><strong>BRITISH AMERICAN TOBACCO</strong><br />Cazenove has reiterated its recommendation for British American Tobacco shares as “Outperform”. It says the tobacco group continues to deliver with a stunning set of results, though predicts the second half will be tougher. Brokers see rises of five per cent in earnings per share by 2010 as positive and supportive of the stock rating.<br /><br /><strong>ARENA LEISURE</strong><br />KBC Peel Hunt says shares in Arena Leisure should be regarded more positively and has upgraded them from “Hold’ to “Buy” status. It says the company’s key contracts should continue to supply value. A resilient trading outlook and a strengthened balance sheet are reflected in positive share recommendations, it adds.