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Best of the Brokers for 24 June 2014
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DEVRO
N+1 Singer keeps the sausage skin maker as a “sell” and drops its target from 246p to 211p ahead of results next month. Since the broker moved Devro to its sell list in October, the stock has lagged the FTSE All Share by 15 per cent, and despite cost-cutting Singer sees few signs of progress.
SAINSBURY
Cantor Fitzgerald has maintained its “hold” rating for the supermarket and kept its target at 320p. The broker believes that a tie-up with Netto will be a good strategic deal for Sainsbury’s, as it could help the company steal a march on its rivals in the fast-growing discount market.