Broker tips: British Land, ITV, Wood Group

British Land was extending gains made the previous session following a solid annual report, Goldman Sachs and Canaccord Genuity both raised their target prices for the shares and kept 'buy' ratings, while Numis Securities reiterated an 'add' recommendation and Exane BNP Paribas left its 'outperform' stance unchanged.

As for Goldman, which lifted its target from 975p to 985p, it said the results showed a "source of opportunity" for the real estate investment trust. It highlighted a "variety of positive catalysts" for the stock going forward.

ITV's share price rebounded slightly on Friday after an underwhelming first-quarter update the previous day which caused Barclays Capital to cut its rating on the stock from 'overweight' to 'equal weight'.

The broker increased its target price for the shares slightly from 250.4p to 260p to integrate numbers from the recent acquisition of Talpa Media. However, BarCap said that 'in-line' results from the broadcaster and producer were "not good enough" for it to maintain a positive recommendation.

Canaccord Genuity has downgraded energy services outfit Wood Group from 'hold' to 'sell' and cut its target price from 650p to 625p following the recent strong gain in the shares.

"Wood Group gave guidance for 2015 with its AGM statement earlier this week, having received greater customer feedback on the outlook. Although we are moving up our number marginally for this year, we are still well below consensus, and after the c.40% rally in the stock year-to-date we are downgrading to 'sell'," said analyst Alex Brooks.