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Upgrades/Downgrades - 2 August 2013

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For a more detailed explanation of Upgrades/Downgrades see Link

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

Aggreko Jefferies cuts TP to 2000p from 2200p, Buy
Babcock UBS ups TP to 1150p from 1050p, neutral
BAE Systems RBC ups TP to 420p from 370p, underperform
BAE Systems JP Morgan ups TP to 390p from 365p, underweight
CSR UBS downgrades to sell from neutral; TP to 530p from 540p
Hiscox JP Morgan ups TP to 620p from 584p, neutral
Inchcape Investec ups TP to 610p from 600p, Buy
Inchcape Investec ups TP to 610p from 600p, Buy
Informa HSBC ups TP to 450p from 440p, underweight
International Personal Finance RBC ups TP to 700p from 540p, outperform
ITV HSBC ups TP to 95p from 87p, underweight
Jupiter Fund Management RBC ups TP to 410p from 380p, outperform
Jupiter Fund Management Jefferies ups TP to 375p from 330p, Hold
Jupiter Fund Management JP Morgan ups TP to 374p from 317p, overweight
Laird JP Morgan ups TP to 254p from 250p, overweight
Lloyds Banking Group RBC ups TP to 88p from 65p, outperform
Lloyds Banking Group Nomura ups TP to 64p from 61p, neutral
Lloyds Banking Group Citigroup ups TP to 80p from 70p, neutral
Lloyds Banking Group JP Morgan ups TP to 77p from 65p, neutral
Next UBS ups TP to 4880p from 4450p, neutral
Promethean JP Morgan cuts TP to 21p from 22p, neutral
Renishaw N+1 Singer cuts TP by 13 percent to 1675p, Hold
Royal Dutch Shell UBS cuts TP to 2200p from 2300p, neutral
Royal Dutch Shell RBC cuts TP to 2520p from 2580p, outperform
Royal Dutch Shell JP Morgan cuts TP to 2200p from 2400p, underweight
Smith & Nephew JP Morgan ups TP to 74 euros from 59 euros, overweight
Spirent JP Morgan ups TP to 154p from 152p, neutral
Spirent Communications N+1 singer ups to Buy; ups TP to 160p
Taylor Wimpey Citigroup ups TP to 108p from 96p, neutral
Thomas Cook HSBC ups TP to 200p from 162p, overweight
UBM JP Morgan cuts TP to 775p from 790p, neutral
Weir Group Berenberg ups to Buy from Hold; ups TP to 2545p from 2515p
William Hill Investec ups TP to 530p from 515p, Buy
Xchanging JP Morgan ups TP to 177p from 166p, 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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