Broker tips: Whitbread, L&G, Weir

Credit Suisse keeps its 'outperform' rating on Whitbread, but slashes its target price from 2,230p to 1,992p, after a cautious outlook alongside its full year results.Credit Suisse said that the Costa Coffee and Premier Inn owner reported "solid" figures for the year ended 3 March, but issued cautious comments on current trading which has prompted the broker to revise down its earnings per share (EPS) forecasts by 6% and 9% in 2012 and 2013, respectively.However, the broker noted that its new target price implies 19% upside potential, as Whitbread has underperformed the FTSE 350 travel and leisure sector by 6% since hitting recent highs in January.Legal & General was one of the strongest performing stocks on the FTSE 100 during the first three months of the year, and Panmure Gordon expects the good performance to continue based on the insurance titan's attractive valuation.The broker said new business sales were "impressive" with life and pensions sales of £433m on an annualised premium equivalent (APE), compared with a close-to-consensus forecast of £446m (within the £353-477m range).With the shares trading at an 11% discount to the broker's 2011 estimated embedded value of 139p per share, the target price has been increased from 130p to 139p to reflect this.Peel Hunt has raised its target price for engineer Weir following the group's upgrade to full year profit guidance announced on Wednesday.The statement reported record order intake for Minerals and Oil & Gas, with the latter being boosted by continued high level of shale gas activity in North America. Order input increased by 39% on last year (+30% on a like-for-like basis)."Consequently, management has raised its full-year pre-tax profit guidance by £20m," notes the broker. Peel Hunt increases its target price to 1,900p, from 1,800p, to reflect the upgrade, but maintain its 'hold' recommendation.