Broker tips: M&S, Foxtons, Bovis Homes, Monitise

High street giant Marks & Spencer has, against a backdrop of low expectations, "offered some hope" with its first-quarter update, according to Hargreaves Lansdown Stockbrokers.Analyst Keith Bowman said: "An increased focus on profit margin generates potential longer term optimism, with General Merchandise sales no worse than forecast. Key Womenswear sales have grown, while a recent improvement in online sales, despite previously flagged difficulties, provides some relief."Credit Suisse said it sees significant upside at Foxtons as it gave the estate agent chain an 'outperform' rating and added the stock to its "Small- and Mid-Cap Focus List"."We see Foxtons as a compelling investment case on valuation grounds, structural growth and capital returns," said analysts Eugene Klerk and Harry Goad.Bovis Homes offers the best value in the housebuilding sector, according to Panmure Gordon which repeated its 'buy' recommendation on the stock following a decent first-half update."Bovis has issued a strong trading update and we maintain our above-consensus forecasts, though flag that risk continues to remain on the upside. A 44% increase in volumes to take forward underpins our belief that Bovis will deliver a strong profit upturn for the full year."A profit warning from Monitise hasn't deterred Canaccord Genuity from its positive stance on the stock, with the broker highlighting the long-term potential of the mobile payments business.Despite lowering its expectations for the current year, Canaccord said it is "encouraged" to see Monitise reiterate long-term guidance, "driven by an accelerated strategic shift towards a more reliable, higher margin revenue model".BC