Best of the Brokers for 20 February 2014
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GENUS
Panmure Gordon sticks to its “sell” rating on the livestock genetics firm ahead of interim results next Tuesday. Earnings per share are predicted to decline by almost five per cent to 24.5p, with some of the slump due to currency headwinds that the broker thinks will continue this year.
M&S
Jefferies has upgraded the retailer from “hold” to “buy” and hiked its target from 480p to 600p following the launch of M&S’s new website. The broker believes M&S now has the best online sales channel on the high street, which could help the firm boost web sales by 30 per cent next year.
GREGGS
UBS has raised its price target on the bakery from 480p to 560p and kept its “buy” rating ahead of results on 26 February. The broker expects the improving economy to build on like-for-like sales growth of 3.1 per cent at the end of the year, though profit growth will be limited.