Broker tips: RSA Insurance, Petrofac, Centamin

6th Jan 2014 11:21

RSA Insurance was making gains on Monday morning after UBS raised its target price on the stock by 13 per cent, saying that the firm's struggles in Ireland could be used as a 'catalyst for change'.Meanwhile, the bank also said that a takeover and break-up of RSA still "remains a possibility", following recent market chatter. Analyst James Shuck reiterated his 'buy' rating on RSA, as he upped his target price from 100p to 113p. The stock was also added to UBS' 'Alpha Preferences Most Preferred List'.Deutsche Bank has lifted its recommendation for oilfield services group Petrofac from 'hold' to 'buy', saying that the stock's current price is overly discounting risks."Sentiment [...] has arguably bottomed and with a return to good growth likely to become more visible in 2014, trading on 8.5 times estimated fiscal year 2015 earnings, we upgrade to 'buy'," said Research Analyst Sebastian Yoshida.Canaccord Genuity has labelled Egypt-focused gold miner Centamin as a 'speculative buy' after fourth-quarter production results smashed expectations on Monday."The results are positive and substantially better than we expected as we had based our forecast on the company's guidance of lower production in Q4/13 versus the average in Q1-Q3 due to the Stage 4 commissioning," said analysts Dmitry Kalachev and Peter Mallin-Jones.BC