BEST OF THE BROKERS
GLAXOSMITHKLINE
Collins Stewart increased its price target for GlaxoSmithKline from 1,360p to 1,383p due to higher long-term forecasts for selected products. It made minor changes to its shorter-term forecasts following a third-quarter performance that was generally in line with forecasts. The broker reiterated its “buy” recommendation.
TRINITY MIRROR
Goldman Sachs downgraded Trinity Mirror from “buy” to “neutral” after a period of strong outperformance versus the market. Since the broker added the stock to its conviction “buy” list, the shares are up 27 per cent, compared to a 9.3 per cent rise in the FTSE World Europe index. Its 186p target price remained unchanged.
ASOS
Investec said ASOS is one of its favourite sector players, ahead of the online retailer’s interims on 16 November. The broker remains confident in the prospects for longer-term earnings growth, despite a noticeable step-down in domestic sales growth. It has a “buy” rating on the stock, with a 372p target price.
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