Best of the Brokers for 19 February 2014
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CENTRICA
UBS has cut the owner of British Gas to a “sell” and slashed its target from 340p to 280p in the wake of recent political attacks on the energy sector. UBS believes the threat of imposed profit restrictions are likely to discourage investors while unlikely to actually benefit consumers.
TATE & LYLE
Berenberg has kept its “buy” rating on the sugar maker but cut its target from 900p to 775p. Sucralose prices have fallen around five per cent a year, and are expected to fall further due to the glut of unsold stock in China, the broker warns.