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Upgrades/Downgrades - 1 October 2013

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Key: (?) = Upgraded, (?) = Downgraded, (-) = Maintained

Stock Broker Update
British Land SocGen downgrades to Hold from Buy
BT Group Morgan Stanley ups TP to 350p from 310p, Equalweight
Carnival HSBC cuts TP to 2120p from 2500p, neutral
Derwent london SocGen downgrades to Hold from Buy
Faroe Petroleum RBC cuts TP to 190p from 200p, outperform
Firstgroup HSBC ups TP to 115p from 110p, neutral
Genus N+1 Singer ups TP to 1357p from 1348p, Hold
Great Portland Estates SocGen cuts TP to 550p from 600p, Hold
Hammerson SocGen cuts TP to 590p from 670p, Buy
Intu Properties SocGen downgrades to sell from Hold
Investec UBS cuts TP to 465p from 520p, Buy
Kingfisher Jefferies ups TP to 440p from 400p, Buy
Ladbrokes Nomura cuts TP to 145p from 165p, reduce
National Express Group HSBC ups TP to 290p from 280p, overweight
Salamander Energy Barclays cuts TP to 160p from 175p, Equalweight
Segro SocGen downgrades to Hold from Buy
Vodafone HSBC ups TP to 255p from 230p, overweight
Source: Reuters News, AlphaTerminal, Dow Jones Newswires

Source: Bloomberg, Reuters News, AlphaTerminal, Dow Jones Newswires

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T111his research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.

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