Broker tips: Barclays, Burberry, Aggreko

Nomura has retained its 'reduce' recommendation and 210p target price for Barclays following the revelation of more PPI provisions, saying that the bank is entering a period of potential negative catalysts. As for the upcoming adverse catalysts, the PPI issue is unsurprisingly the first of many negative surprises, the broker said. "We expect potential cleanup costs with the arrival of a new CEO, potential to mark level 3/similar assets more conservatively, take more aggressive restructuring measure (provisions-wise) due to external pressure, challenges from forth coming regulation and a rethink around the capital position of the group."Shares in luxury fashion group Burberry were registering gains on Friday morning in London after Investec returned to its bullish stance on the stock and upgraded its rating from 'hold' to 'buy'.Investec said: "The Burberry brand is far from broken, operational leverage should come through, and, whilst volatility will remain, we see long-term value here."The market reaction to Aggreko's third-quarter trading update on Friday was far from positive, but analysts on the whole have retained their upbeat long-term stances on the stock with the majority recommending investors to 'buy on weakness'.Investec maintained its 'buy' rating and 2,520p target price for the shares. Analyst John Lawson said: "The stock is likely to be weaker today, we believe, due to the likely adjustments to forecasts (and the high rating), but we remain convinced that the longer-term fundamentals of the investment case remain very sound (mostly, due to the structural growth drivers) and would see any sell-off as an opportunity to top-up holdings."BC