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Upgrades/Downgrades - 18 October 2013

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

Stock Broker Update
A.P.R. Energy Jefferies ups to Buy; ups TP to 1300p
Aggreko Jefferies downgrades to Hold; cuts TP to 1500p
ASOS HSBC ups TP to 7160p from 4380p, overweight
British Sky Broadcasting Berenberg ups TP to 750p from 705p, sell
Computacenter UBS downgrades to neutral from Buy
Diageo SocGen cuts TP to 2050p from 2150p, Hold
MAN Group Jefferies ups TP to 70p from 65p, underperform
MAN Group UBS ups TP to 91p from 86p, neutral
MAN Group SocGen ups TP to 94p from 93p, Hold
Rotork Berenebrg ups TP to 2891P from 2410P, sell
SEGRO Morgan Stanley resumes coverage with overweight; TP 345p
Smiths Group Berenberg ups TP to 1575P from 1345P, Hold
Spirent Communications UBS cuts TP to 135p from 145p, neutral
STV Liberum ups fair value to 440p from 370p, Buy
Telecity Group UBS ups to Buy from neutral
Tesco Cantor downgrades to Hold from Buy; cuts TP by 20 percent to 353p
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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