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Investment: Sharewatch

BARCLAYS BANK shares are worth pounds 18, according to Warburg Dillon Read, and Dresdner Kleinwort Benson also recommend the stock following the results which turned out better than expected yesterday. But some analysts remain concerned about how the bank will tackle the continuing need to reduce operating costs. NatWest Bank is favoured by HSBC Securities and SG Securities, hoping for good figures and possible bid developments.

BOOTS SHARES are tipped by the broker WestLB Panmure, which see them reaching pounds 10 in the near future on the back of improving profits and resistance to a possible recession. Rentokil, the fast-growing cleaning services giant, is tipped by Schroders.

HADEN MACLELLAN, the process engineers, is tipped by Albert E Sharp, who now rates the shares a "buy" at current prices after this week's profit warning, which was blamed on accounting problems in the paint division.

ORANGE, THE high-flying telecom company, is now a "sell" according to brokers CSFB, concerned that the shares have been over-hyped in the recent rush for telecoms stocks. The shares have come off the top but have still tripled from their low point in the past year.