Greencore has the `right ingredients'

Greencore gets the thumbs-up from US brokers, BT Alex Brown, which describes the agri-business group as having "the right ingredients".

The broker has reiterated its buy recommendation for the stock and has set a price target of €4.75 (£3.75).

"A combination of strong market positions and the astute redeployment of Greencore's prodigious cash-flow add up to an attractive defensive investment in uncertain times," BT Alex Brown says.

By contrast, BCP Stockbrokers is not too keen on Greencore or Fyffes, both of which, it says, it would avoid because of the continued bias toward growth stocks and the impact this has had on sector weightings within the euro zone.

In its latest research note, the broker continues to recommend AIB, Bank of Ireland, Irish Life, Irish Permanent and CRH. It also believes that a number of growth-oriented companies will outperform the leaders over the next six months.

Among the stocks it favours are First Active which it says is on a low price/earnings ratio, while its attractiveness as a take-over play should make it a good investment over the next six months.

BCP also likes Kerry, a high-growth stock which is also part of the Euro Stoxx food sector, and Kingspan, which it describes as both a value stock and a growth stock.

In the technology sector, BCP says Iona's share price is currently weak, due to a lull in the news flow, and this offers a good buying opportunity.