Broker tips: HSBC, Vodafone, Wood Group, Centamin, Miners

Investec has upgraded HSBC, saying the banking group is regaining its appetite for lending.

"We are mightily encouraged by evidence of returning risk appetite. We upgrade to 'add' from 'hold' and our target price to 650p from 620p," the broker said.

Vodafone's recent share-price outperformance means that the stock is now pricing in a recovery in its markets, something that Nomura reckons will be "slow to take hold" because of rising competition.

The broker downgraded its rating for the telecoms giant on Thursday from 'neutral' to 'reduce' and reduced its target price from 190p to 180p.

Liberum Capital is advising investors to 'sell' Wood Group amid concerns about falling oil prices and demand next year.

Liberum said it wanted indications from the group's management about how falls in the price of West Texas Intermediate crude oil below $90 a barrel would affect the business. The broker has also voiced concerns about how a potential slowdown in oil industry demand for services would affect suppliers like Wood.

Centamin has a mountain to climb towards the end of the year, according to analysts at Peel Hunt, after production rates for the third quarter came in short of hopes.

The broker maintained its 'buy' rating and 75p target price for the gold miner after Thursday's output update, but has downgraded its estimates for 2014.

Although it remained cautious on the mining sector as a whole, Numis picked out Randgold Resources, Fresnillo and Petra Diamonds as the gems in its quarterly metals and mining report.

Numis' analysts continue to stand by their defensive criteria, reflected in their top picks, which offer “superior growth profiles to counteract flat to falling commodity prices, high quality assets to weather any downturn and strong management to deliver on business plans”.