Brokers tips: Dixons, William Hill, Old Mutual, BHP Billiton

LONDON (SHARECAST) - Merrill Lynch has raised its price target on mining group BHP Billiton to 500p per share from 461p.

The investment bank said doubts had been removed about the presence of a global economic recovery led by the US and China.

Deutsche Bank has upgraded its rating on electronics retailer Dixons "buy" from "hold".

Last week the high street giant delivered flat first half sales to November and said it is too soon to call how the crucial Christmas period will go.

The German broker also raised its share price target for betting company <a href=""http://travis.willhill.com/re.asp?name=WHCDEN&camp=REF204_0"">William Hill</a> to 380p per share from 315p, keeping a "hold" recommendation on the stock.

Deutsche Bank said the target change was due to last week's positive government ruling on fixed-odds betting terminals and strong trading at <a href=""http://travis.willhill.com/re.asp?name=WHCDEN&camp=REF204_0"">William Hill</a>.

Meanwhile investment bank Goldman Sachs raised its rating on music company EMI to "in-line" from "underperform". Today the music group says it had withdrawn its offer for Warner Music, as another bidder steps in.

Smith Barney raised its rating on insurer Old Mutual to "buy" from "hold."