Best of the Brokers for 20 March 2014
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ROLLS-ROYCE
UBS has reversed its view on the engineering giant, moving from a “sell” to “buy” and hiking its target from 900p to 1,160p. The broker believes the firm’s cash conversion will improve towards the end of the decade and has raised its profit forecasts by three to five per cent.
ASOS
Barclays sticks to its “overweight” rating and £60 target following the retailer’s disappointing results. The broker thinks the figures were a blip, after strong Christmas trading, and believes the firm’s higher spending on expansion will pay off.