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Upgrades/Downgrades - 20 June 2013

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Ashtead Group Jefferies ups TP to 750p from 690p, Buy
Aviva Berenberg ups TP to 375p from 350p, Hold
Beazley Berenberg ups to Buy from Hold; ups TP to 238P from 232P
Berkeley Group UBS ups TP to 2350p from 2250p, Buy
Big Yellow Group UBS ups TP to 400p from 380p, neutral
British Land SocGen ups taregt to 670p from 630p, Buy
Catlin Group Berenberg ups to Buy from sell
Compass Group UBS ups TP to 900p from 790p, neutral
Darty UBS cuts TP to 65p from 70p, neutral
Derwent London SocGen ups to Buy from Hold
Direct Line Berenberg ups TP to 189p from 184p, sell
Go-Ahead Group Jefferies cuts TP to 1650p from 1725p, Buy
Great Portland Estates SocGen ups to Hold from sell
Greencore Davy Research ups to outperform from neutral
Hammerson SocGen ups TP to 670p from 610p, Buy
Intu Properties SocGen ups to Hold from sell
ITV WestHouse Securities ups TP to 156p from 150p, add
Kirkland Lake Gold Panmure cuts TP to 380p from 525p, Buy
Land Securities SocGen ups TP to 1000p from 900p, Hold
Lloyds Banking Group Exane BNP Paribas ups TP by 15 percent to 75P, outperform
Phoenix Berenberg ups TP to 750p from 725p, Buy
Prudential Berenberg ups TP to 1420p from 1350p, Buy
Resolution Berenberg ups TP to 285p from 270p, Hold
RSA Insurance Group Berenberg cuts TP to 142p from 150p, Buy
St. James’s Place Berenberg ups TP to 600p from 550p, Hold
Standard Life Berenberg ups TP to 333p from 310p, sell
Whitbread Jefferies ups TP to 2700p from 2300p, Hold
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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