Broker tips: Henderson, Cineworld, PV Crystalox

UBS scaled back its numbers for fund manager Henderson Group on Thursday as a consequence of "lower market levels and lower flows.""Given the cautious outlook for the retail segment, we are now looking for modest outflows in [the second half] from this segment, versus healthy net flows of circa £400m in [the first half]," said analyst Arnaud Giblat."Even if markets were to see a significant turnaround, we would expect inflows to lag," he said.A neutral rating was maintained.Panmure Gordon has maintained its buy rating on cinema group Cineworld following the firm's "robust interim results" released on Thursday."The group has had a strong start to the second half of 2011, led by the success of Harry Potter: The Deathly Hallows Part 2 and is confident of performing in line with market expectations for the full-year," the broker said.The target price stays at 260p.Merchant Securities has upgraded its rating on PV Crystalox Solar, the solar power wafers manufacturer, from sell to hold after the stock's recent underperformance."Having gone to a sell at 44p at the end of June, the price has fallen far enough and [we] rate the group a hold," with a target price of 20p.However, the broker suggests that if the price falls below 16p, "buy on weakness".BC