Best of the Brokers for 18 February 2014
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ANGLO AMERICAN
UBS keeps its “buy” rating on the mining firm and has boosted its target from 1,580p to 1,650p after forecast-beating results. The broker is impressed by Anglo’s cost-cutting efforts and thinks rising diamond prices could boost earnings further.
GALLIFORD TRY
Panmure Gordon tells investors to “sell” shares in the housebuilder ahead of results tomorrow, and has a target of 1,071p. Despite an expected 10 per cent rise in pre-tax profits, the broker thinks the shares are overpriced at 2.3 times the firm’s net asset value.
RSA
Canaccord Genuity has raised its rating on the insurer to “hold” and hiked its target from 85p to 95p. The broker thinks the rumoured 10 per cent share placing could be better for investors than a rights issue, with less dilution and less of a discount.