Broker tips: Sainsbury, Next, BHP Billiton

Shares in UK supermarket retailer Sainsbury rose to the top of the FTSE 100 on Wednesday after Societe Generale upgraded the stock to 'buy' from 'hold' and raised the target price to 315p from 260p, pointing to a resilient profile and attractive valuation.It said the group's profile is more resilient than many fear thanks to its strong differentiation - a clear focus on quality and in-store services - and efficient marketing policy.Barclays upgraded Next to 'overweight' from 'equalweight' and raised the price target to 9,000p from 7,400p.Barclays said its analysis suggests the market under-appreciates Next's growth opportunities both in Retail and Directory, which stem from real wage growth, a very promising Label business and online international expansion.The bank noted that Next currently trades in line with the sector, its lowest level in two years, yet it offers the highest dividend yield in Barclays' coverage at a time when high yield investments are scarce.Credit Suisse upgraded BHP Billiton to 'neutral' from 'underperform' with an unchanged price target to 1,350p."The shares are down 11% over the past three months even after adjusting for the South32 spin-out and we are now more constructive on BHP, recognising the better value and dividend support," said Credit Suisse.The bank said that even with its below-consensus earnings forecasts, BHP's balance sheet holds up reasonably well with debt peaking at a manageable $30.9bn.