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Best of the Brokers for 04 August 2014
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BARCLAYS
Berenberg has upgraded the bank’s rating to “hold”, saying it no longer has “enough downside to justify a sell recommendation”. The broker says Barclays has the potential to emerge as a long-term winner, but adds that it does not think the current strategy will unlock it.
ADIDAS
S&P Capital has maintained its “hold” rating for Adidas ahead of results on Thursday and cut its target price to €62, from €83. Adidas has issued a profit warning based on below par golf product sales in the US and a currency-related margin squeeze in Russia.