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BEST OF THE BROKERS

<strong>BSKYB</strong><br />JP Morgan upgraded BSkyB to &ldquo;neutral&rdquo; from &ldquo;underweight&rdquo;, saying that the regulatory overhang has been removed in the short-term &ndash; with Ofcom unlikely to publish its next consultation document until the end of the year &ndash; and the focus can shift to operating performance and capital structure. But some factors stop the broker from being more positive, including market anticipation of the next Ofcom report in the second half of the year.<br /><br /><strong>DAILY MAIL &amp; GENERAL TRUST</strong><br />Cazenove recapped its investment view ahead of today&rsquo;s management statement from DMGT, saying it expects good longer-term upside in the shares reflecting both cyclical recovery potential and sound longer-term growth prospects. The broker estimates that the stock could recover to 490p by mid-2012 as the economic cycle turns. It rates the shares as &ldquo;in-line&rdquo; with a &ldquo;neutral&rdquo; rating on the sector, but awaits more visibility on risks.<br /><br /><strong>LAND SECURITIES </strong><br />UBS downgraded its earnings estimates for Land Securities by between 19 per cent and 33 per cent to allow for the impact of sales and the potential impact of the worsening rental outlook. It said that the company has proven much more vulnerable to the property cycle this time, and believes that it will be much more responsive to the recovery. The broker reduced its 12 month price target to 500p and retained its &ldquo;neutral&rdquo; rating.<br />