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Upgrades/Downgrades - 6 November 2013

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

Stock Broker Update
3i Group Morgan Stanley ups TP to 382p from 351p, Equalweight
Associated British Foods SocGen ups TP to 2260p from 1950p, Hold
Associated British Foods Citigroup ups TP to 2350p from 1950p, neutral
Associated British Foods UBS ups TP to 2430p from 2030p, Buy
Assura Group Liberum initiates with Buy rating; TP 42.9p
Big Yellow Group Liberum initiates with Hold rating; TP 496p
Blinkx Citigroup ups TP to 220p from 185p, Buy
Booker Berenberg initiates with Buy; TP 164p
Centrica UBS cuts TP to 335p from 370p
easyJet HSBC downgrades to underweight from neutral
Hansteen Holdings Liberum initiates with Hold rating; TP 110p
Health Properties Liberum initiates with Hold rating; TP 308p
Legal & General Berenberg ups TP to 255p from 225p, Buy
London Stock Exchange RBC ups TP to 1800p from 1600p, outperform
Londonmetric Property Liberum initiates with Hold rating; TP 128p
LSL Property Services Jefferies ups TP to 610p from 440p, Buy
Marks and Spencer SocGen ups TP to 650p from 636p, Buy
Marks and Spencer Citigroup ups TP to 575p from 535p, Buy
Mondi Jefferies ups TP to 1275p from 1150p, Buy
Safestore Holdings Liberum initiates with Buy rating; TP 203p
SSE UBS cuts TP to 1570p from 1630p
St. Modwen Properties Liberum initiates with Buy rating; TP 406p
The Unite Group Liberum initiates with Buy rating; TP 461p
Unilever Nomura downgrades to neutral from Buy; cuts TP to 30.20 euros from 32.25 euros
Workspace Group Liberum initiates with Buy rating
Workspace Group Liberum initiates with TP 546p
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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