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Upgrades/Downgrades - 16 August 2013

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For a more detailed explanation of Upgrades/Downgrades see Link

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

African Minerals Barclays initiates with taregt 220p
ASOS SocGen ups TP to 5400p from 4258p, Hold
Avon Rubber Investec downgrades to Hold from add; ups TP to 500p from 470p
BHP Billiton JP Morgan cuts TP to 2310p from 2340p, neutral
Cineworld JP Morgan ups TP to 428p from 368p, overweight
Ferrexpo Barclays with Equalweight; TP 200p, initiates with underweight rating
GKN Barclays ups TP to 327 euros from 299 euros, Equalweight
International Consolidated Airlines Morgan Stanley ups TP to 4.80 euros from 4.15 euros, overweight
London Mining Barclays initiates with underweight; TP 110p
Ophir Energy RBC downgrades to sector perform from outperform; TP to 450p from 600p
Pearson Morgan Stanley ups TP to 1225p from 1215p, underweight
Prudential Nomura ups TP to 1487p from 1392p, Buy
The Unite Group Jefferies initiates with Hold, initiates with TP 411p
WPP Liberum ups TP to 1300p from 1180p, Buy
X5 Retail JP Morgan ups TP to $20 from $19, 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.

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