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Upgrades/Downgrades - 30 September 2013

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Stock Broker Update
Barclays Goldmans cuts  TP to 310p,  Neutral
Barratt Developments JP Morgan Cazenoveorgan ups to Overweight
BG Group Goldman ups TP to 1620p Conviction buy list
Bovis Homes JP Morgan Cazenoveorgan downgrades to Underweight
BP Goldman cuts TP to 450p Neutral
Drax Socgen cuts  to Hold
IAG Goldman ups TP to 281p
Ladbrokes UBS cuts  TP to 165p Neutral
Persimmon JP Morgan Cazenoveorgan ups to Overweight
RBS Barclays ups  TP to 400p Overweight
Shell Goldman ups  to Buy from Sell TP 2310p
Shire JP Morgan Cazenoveorgan ups  to Overweight from 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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