Broker tips: Lloyds, Britvic, Airlines...

Evolution Securities has reiterated its buy recommendation on banking giant Lloyds, following the departure of its finance director Tim Tookey."Tim Tookey's departure represents a de facto clean sweep of the executive team inherited by new chief executive officer Antonio Horta Osorio when he arrived in January 2011," said Evolution analyst Ian Gordon.The broker keeps its positive stance on the stock, noting that its share price has more than halved over the past 12 months. Nevertheless, it predicts greater upside for peers RBS and Barclays.A 50p target price is retained.UBS has cut its target price from 380p to 325p for soft drinks group Britvic, saying that despite the undemanding valuation, catalysts are limited.The target price downgrade is to reflect the following headwinds: "(1) further pressure on cost of golds sold (COGS) into 2012 despite high single digit inflation in 2011; (2) poor summer weather in UK; (3) ongoing weak consumer environment in key markets; and (4) proposed tax on sugary drinks in France," the broker said.A neutral rating is kept.RBS has cut its target prices for airline peers easyJet, International Consolidated Airlines (IAG), Ryanair and Flybe, after assessing August traffic data across the industry.EasyJet: "We are cautious about inferring too much about yields from load factor performance - last December quarter easyJet reported great loads but turned out to have anaemic yields," RBS analysts said. The target price is scaled back to 325p, from 450p. Nevertheless, a buy rating is kept.IAG: With an uncertain economic outlook, the broker said that it sees greater risks for carriers with long-haul premium traffic exposure. The target price is slashed from 165p to 154p and a hold rating is confirmed.Ryanair: "The volume was slightly lower than the high single digit we expected, but load factor was as expected." The target price is cut from €3.50 to €3.09, but a buy recommendation is retained.Flybe is also labelled as a buy, but the target price is reduced to 123p, from 225p previously.BC