Best of the Brokers for 19 September 2014
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ROYAL MAIL
Investec has kept at “hold”, but cut the target price to 430p from 490p. The broker thinks the stock is at a crossroads, with Royal Mail hit on several fronts in recent months, but Investec still expects the transformation programme to deliver some healthy benefits in the coming years.
AVEVA GROUP
Numis has upgraded to “buy” from “add”, but kept the target price at 2,480p. The broker thinks while there is near term uncertainty, the current price represents a clear buying opportunity, as Numis thinks that longer term the company remains very high quality and a strategic asset.