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Upgrades/Downgrades - 12 August 2013

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For a more detailed explanation of Upgrades/Downgrades see Link

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

Company Broker Update
Aviva S&P Capital ups TP to 420p from 360p; Hold
Bodycote N+1 Singer upgrades to Buy from Hold
Capita PLC Citigroup downgrades to Neutral from Buy; Ups TP to 1075p from 990p
Catlin Group Keefe, Bruyette & Woods upgrades to Market perform from underperform; Ups TP to 475p from 465p
Catlin Group HSBC upgrades to Overweight from Neutral; Cuts TP to 590p from 609p
Greggs UBS cuts TP tp 490p from 540p; Nuy
Hargreaves Lansdown Numis Securities ups TP to 997 from 925; Hold
Lancashire Holdings Citigroup cuts TP to 850p from 892p; Buy
MoneySupermarket.com JPMorgan downgrades to Neutral from overweight; Ups TP to 212p from 202p
Premier Farnell HSBC upgrades to Overweight from Neutral; Ups TP to 290p from 225p
Spirax-Sarco Liberum ups TP to 2840p from 2580p; Hold
Standard Chartered Mizuho Securities Downgrades to Neutral from Buy; Ups TP to 1664p from 1660p
Standard Chartered UBS cuts TP to 1790p from 1830p; Buy
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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