Best of the Brokers for 11 March 2014
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ASSOCIATED BRITISH FOODS
UBS hails the retail and sugar group as a “buy” and raises its target from 2,890p to 3,300p. The broker thinks Primark is still at an early stage of its growth trajectory and believes the fashion business alone is worth £15.6bn, compared to ABF’s total current market value of £23.5bn.
PROVIDENT FINANCIAL
Shore Capital is impressed by the consumer lending firm, keeping its “buy” rating and raising its target to 1,930p. The broker is upbeat about Provident’s prospects in the UK as well as its business in Poland, and predicts earnings growth of 15 per cent a year for the next two years.