BEST OF THE BROKERS
TUI TRAVEL
UBS upgrades TUI Travel from “neutral” to “buy” with a lower price target of 250p. UBS said that market risk aversion and concerns that a late collapse in summer 2010 sales will cause a significant earnings downgrade seem to have caused the shares to sharply underperform. UBS believes the stock now offers good value.
INVESTEC
Numis said that Investec should be attractive to both growth and value investors. Numis has issued a “buy” recommendation for Investec and said the group’s earnings have been substantially more resilient than all the major UK focused banks through the credit crunch with earnings per share declining by a third from peak to trough.
UBC MEDIA GROUP
The recent results from UBC Media Group, according to Seymour Pierce, demonstrate strong progress in the strategy of becoming a diverse producer of audio and video output which is well-placed to exploit the demand for more on-line content and greater interactivity. Seymour Pierce gives UBC a “buy” recommendation.