Broker tips: Imagination Technologies, IG Group, ASOS

A corner is being turned at Imagination Technologies after an in-line first quarter, according to Investec, though the broker kept a 'hold' recommendation on the stock ahead of an uncertain second half."While there is a sense of a corner being turned after a torrid 18 months, we remain on 'hold' because second-half GPU [graphics processing unit] volumes implied in consensus look a difficult ask to us, even with any iPhone 6 ramp and share gain in Mediatek," Investec said.Numis Securities has kept an 'add' rating for spreadbetting group IG Group but has trimmed its forecasts after a poor first-quarter update from the firm.After a quiet summer in financial markets and low levels of volatility sent first-quarter revenues down 9%, Numis reckons that volatility still "remains at a relatively low level". Nevertheless, it reckons that IG still offers "good value", trading at a historic price-to-earnings multiple of 14.8.Deutsche Bank has lowered its stance on ASOS from 'buy' to 'hold', saying that the online fashion retailer is attempting to maintain growth at the expense of its margins.Deutsche Bank said that while its expectations for the year just gone remain unchanged, margin guidance has been cut "as the company plans to aggressively address the deteriorated international price position". The bank said it is waiting on "better visibility on the execution and success of this strategy" as it reduced its target price by a third from 3,600p to 2,400p. IG ASOS