Best of the Brokers for 13 March 2014
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M&C SAATCHI
Numis keeps an “add” rating on the advertising group and has a target of 369p ahead of final results on 20 March. The broker thinks the firm will post £18.5m in pre-tax profit and six per cent organic growth, offset by unfavourable currency movements.
N BROWN
UBS has downgraded the retailer from “neutral” to “sell” with a target cut from 565p to 535p. The broker fears that N Brown is encroaching on the stomping ground of more established brands like M&S, and has concerns about the firm’s fashion credentials.