Best of the Brokers for 17 February 2014
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DE LA RUE
Numis tells investors to “add” shares in the banknote printer following an investor day that left the broker impressed by a new technology centre and more efficient paper mill. Numis, which has a target price of 854p, said De La Rue has 26 design projects underway.
LANCASHIRE
Canaccord Genuity keeps its “hold” rating on the insurer but trims its target from 750p to 720p following quarterly results that missed the broker’s forecasts. Canaccord is still waiting for signs that the recent purchase of Cathedral is helping the group to offset tough market conditions.
IMPERIAL TOBACCO
Panmure Gordon is upbeat about the tobacco firm’s possible flotation of Logista, its European logistics business, believing a float would free up management to focus on revamping the rest of the firm. The broker keeps its “hold” rating and 2300p target price.