BEST of the BROKERS
ITV
Peel Hunt rates the broadcaster as a “hold” with a target price of 82p, saying that despite a bumper summer of sport it thinks positive sentiment around Euro 2012 is already priced in. The broker says the outlook for autumn and beyond is muted, but expects broadcasting revenue growth of 2.2 per cent.
EADS
UBS has upgraded the Airbus parent from “neutral” to “buy” with a target price of €35, saying the declining strength of the Euro against the dollar boosts long-term profitability, with each 1 cent move down upping EADS value by €1.2 per share. EADS is also a safe haven as two thirds of its sales are non-Eurozone.
KINGFISHER
Seymour Pierce has downgraded its recommendation on the home improvement retailer from “buy” to “hold” with a target price of 290p after revising pre-tax profits down by seven per cent to take into account weaker trading in its core markets.