Broker tips: Lamprell, BTG, Hills and Smith

Nomura has downgraded its recommendation for oil, gas and energy engineer Lamprell from buy to reduce following last week's profit warning."We believe Lamprell's execution and operational strategy is fundamentally at risk and we were wrong to previously assume the company had turned a new leaf. In our view, the root cause of the problems announced lies with management's inability to execute lump-sum contracts," said analysts at Nomura in a research note on Monday morning.The target price is slashed from 430p to 125p.Jefferies has reiterated its buy recommendation and 410p target price for specialist healthcare company BTG after the firm's full-year results this morning."Newsflow momentum in addition to impressive growth are likely to drive significant outperformance, in our view.""Operating leverage, particularly from the US commercial operations, should drive significant earnings growth. While some of the pipeline remains high-risk, namely Varisolve and CytoFab, we have very conservative estimates for both products and still see upside from both in the near term, even if longer-term risks remain."Charles Stanley has initiated coverage of infrastructure group Hill and Smith with a buy recommendation and 390p target price after last week's strong trading update."The IMS last week stated that trading was ahead of expectations in the first four months of the year and in our view, Hill & Smith's increased weighting in the faster growing Utilities market, and the strength of its Galvanising operations, have yet to be reflected in the valuation," said analyst Ben Archer in the broker's 'Breakfast Bite' research note on Monday morning.The stock is trading at 10.5 times 2012 earnings, falling to 9.6 times in 2013, compared to the UK Industrial Engineering sector average multiple of 11.4.BC Hill & Smith