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Best of the Brokers for 27 May 2014
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TESCO
Deutsche Bank has maintained its “buy” recommendation and target price of 342p for the supermarket chain, ahead of a first-quarter trading update on 4 June. The broker forecasts UK sales to deteriorate but expects Europe to continue the improved trend seen in the last quarter.
ANTOFAGASTA
Investec has kept its “sell” recommendation on the Chilean miner but reduced its target price to 690p from 715p, due to the growing likelihood of higher tax in the South American country, combined with a stronger pound and an uncertain near-term outlook for copper prices.