Broker tips: ITM Power, BG Group, M&S

Shares in ITM Power have rallied sharply lately, but broker Panmure Gordon sees room for much more growth and lifts its rating on the developer of alternative fuels to 'buy' from 'hold'.The firm has had a few technical difficulties, but these have been resolved and a deal with a blue-chip customer would help improve perceptions of the company, Panmure said.'Clearly there is a lot to do, but the company has a strong balance sheet and is now fully focused,' the broker said.It now has a 50p price target on the firm, from 20p previously. While other stocks have been rallying in recent months, shares in BG Group have been lagging slightly and ING thinks now may be a good time to buy into the oil and gas group.The broker says it has 'always believed in the long-term growth that BG offers, if not in the price investors should pay to access this.'At less than 1,000p, now looks like a good time to buy BG Group in hope of long-term rewards, says ING. It lifts its rating on the stock to 'hold' from 'sell.'Nomura has taken another look at Marks & Spencer and is lifting its earnings forecasts on the clothes and food retailer.It now thinks like-for-like sales will be flat over the second half and not 3% lower as the broker previously predicted. It keeps its 'buy' rating and 380p target price on M&S. Itm Power Marks & Spencer