Broker tips: AstraZeneca, Barclays, BSkyB, Hammerson

Panmure Gordon has kept a 'hold' recommendation for AstraZeneca after a mixed first quarter from the pharmaceutical group, but said there were some 'bright lights' in the results such as its heartburn treatment Nexium.Analyst Savvas Neophytou said that Astra's portfolio performed well overall, "with Nexium US in particular providing +11% beat which perhaps points to possible delay in genericisation that had been expected on May 27th 2014". Shore Capital has retained its 'buy' stance on Barclays but has highlighted readacross from reports that German banking peer Deutsche Bank is under pressure from investors to raise more capital.Nevertheless, ahead of Barclays' first-quarter update and strategy presentation at the start of May, the broker said that the stock's price-to-tangible net asset value ratio of 0.8 is "still somewhat depressed". Berenberg has reiterated its 'sell' recommendation for pay-TV and broadband group British Sky Broadcasting, saying that the company's upcoming third-quarter statement will probably show signs of market share loss.The broker said that, in line with recent management comments, the update on May 2nd is likely to reflect a "slow" quarter in terms of new customers, "reflecting a weak market overall, coupled with further declines in the company's share of net telecommunications additions".Despite reporting an decent first-quarter statement, retail-focused property group Hammerson received a ratings downgrade by HSBC on Thursday from 'overweight' to 'neutral' on the back of the stock's recent strong run."As a result [of its 16% year-to-date rise] HMSO has moved into a 'neutral' bandwidth based on our valuation framework and so we downgrade to 'neutral' (from 'overweight') albeit with a raised target price of 630p (from 600p) reflecting our updated estimates."BC