BEST OF THE BROKERS

RYANAIR
Ahead of Ryanair’s preliminary results, Collins Stewart has a “buy” recommendation on the airline. The broker expects a dramatic rebound on full-year 2010 profits as the company’s fuel bill falls. Aggressive fleet expansion remains a risk, said the analysts, but the firm continues to take market share from peers.

TOPPS TILES
Goldman Sachs upgraded its full-year 2009 estimates for Topps, following its interim results. The broker now assumes a three per cent like-for-like sales increase for 2009 and retained a “buy” rating, with a six-month target price of 110p, up from 80p. But downside risks include weaker than expected like-for-like sales and failure to deliver store rollouts, the analysts said.

TUI TRAVEL
TUI Travel’s interim results were solid and current trading remains robust, said Charles Stanley, as it upgraded the stock to “accumulate”. The broker expects business to remain resilient, given the high priority that consumers attach to holidays and  a significant reduction in industry capacity over the last two years. But  it warns over historical share price volatility.