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BEST of the BROKERS
RIGHTMOVE
Peel Hunt has a “sell” rating on the property search firm with a target price of £11.80. The broker believes that Rightmove’s better-than-expected revenues in the first half were a one-off, and that its shares remain fundamentally overvalued.
ARM HOLDINGS
S&P Equity Research rates the tech group “buy” and has raised its target price from 575p to 700p. S&P has also raised its forecasts for ARM’s earnings margins, to a whopping 61 per cent by 2020, on annual sales growth of 10 per cent.
VODAFONE
Espirito Santo rates the telecoms group “buy” with a fair value of 210p. Vodafone has suffered a knock after rival Everything Everywhere won a head-start on rolling out 4G, but is unlikely to get the decision overturned, the broker reckons.