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Upgrades/Downgrades - 30 October 2013

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Stock Broker Update
African Minerals Renaissance capital cuts TP to 246p from 415p, Buy
Aquarius Platinum Goldman Sachs ups to neutral from sell
BP SocGen ups to Buy from Hold, ups TP to 530p from 490p
EMIS Group N+1 singer ups to Buy from Hold
Legal & General JP Morgan ups TP to 164p from 151p, underweight
Lookers Panmure ups TP to 147p from 140p, 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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