BEST OF THE BROKERS
HALFORDS GROUP
Ahead of Halfords’ second-quarter trading update on 8 October, Investec upgraded its forecasts and its target price to 435p, from 400p. The broker believes a combination of better weather and more “staycations” than last year will deliver a more robust performance than previously expected, and says “buy”.
WM MORRISON
Jefferies International upped its target price for Morrisons to 340p, from 330p, and upgraded its earnings estimates by four per cent, confirming its confidence in the firm’s mid-term margin growth. The broker has a “buy” rating on the stock, but said that the main risks include a cut in consumer spending.
MICRO FOCUS
Goldman Sachs upgraded Micro Focus to “buy” following a significant share price weakness as it believes the risk-reward ratio is compelling at 4:1. The broker believes the analyst’s day on 28 September will be a key positive catalyst, with the company highlighting attractive medium-term growth opportunities.