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Upgrades/Downgrades - 2 October 2013

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Stock Broker Update
Advanced Medical Solutions N+1 Singer ups to Hold from sell; TP to 90p from 84p
Afren Nomura cuts TP to 170p from 180p, neutral
Barclays SocGen ups to Buy from Hold
Cairn Energy Nomura cuts TP to 370p from 400p, Buy
Dragon Oil Nomura cuts TP to 750p from 800p, Buy
Faroe Petroleum Nomura cuts TP to 190p from 210p, Buy
Ophir Energy Nomura downgrades to neutral from Buy
Ophir Energy Nomura cuts TP to 430p from 650p
Premier Oil Nomura cuts TP to 450p from 550p, Buy
Prudential Morgan Stanley ups TP to 1309p from 1259p, overweight
Soco International Nomura cuts TP to 400p from 425p, neutral
Tullow oil Nomura cuts TP to 1130p from 1220p, neutral
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.

Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research

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