Broker tips: Hargreaves Lansdown, Chemring, Berkeley

5th Sep 2011 12:41

After putting its fair value rating on Hargreaves Lansdown on review last week, Singer Capital Markets decided to upgrade the wealth management firm to buy on Monday, "The recent potential U-turn on payments to platforms and share underperformance has presented a long-awaited buying opportunity in our view. HL's final results demonstrated the continued robustness of the platform and, if it were not for wider equity market weakness, underlying estimates would have been upgraded."The broker has raised its target price to 570p, from 550p.Following Chemring's reassuring interim management statement in August, Credit Suisse has retained its outperform rating on the FTSE 250 defence firm, highlighting "platform[s] for continued growth".The group, which manufactures military decoy flares and mine-detection equipment, is the Swiss broker's "top pick in a subdued defence sector, with a strong position in growth markets."The target price is cut from 690p to 630p.While Berkeley Group presented a strong interim management statement on Monday, showing that trading since May has been ahead of expectations, Panmure Gordon keeps its hold rating on the London- and south east-focused house builder, saying that its current premium rating "looks about fair"."The group now expects to reach five-year profitability targets around two years earlier. Berkeley is a quality company, operating with the right product in the right locations," Panmure said.The target price stays at 1,200p.BC