Best of the Brokers for 03 March 2014
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J MENZIES
Panmure Gordon has a “buy” rating and 840p target ahead of the logistics firm’s full year results tomorrow. The broker expects a 4.4 per cent fall in pre-tax profits to £53.1m, due to falling magazine volumes, while the aviation business looks set to grow further.
JD WETHERSPOON
Numis has an “add” rating and 925p target on the pub chain and keeps its upbeat view of the leisure industry after a lower-than-expected rise in the national minimum wage announced last week. Even though labour costs take up 23.3 per cent of Wetherspoon’s sales, the broker thinks the added cost will be offset by wholesale food prices falling.