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Upgrades/Downgrades - 7 March 2013

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Admiral   Group Nomura ups TP   to 1493p from 1350p, Buy
African Barrick Gold Nomura downgrades   to reduce from neutral; TP to 200p from 435p
Ashtead Group Cantor ups TP to   650p from 500p, Buy
Centamin Nomura cuts TP to   70p from 145p, Buy
Hargreaves Lansdown Canaccord Genuity   downgrades to Hold from Buy
Iofina Investec ups TP to   164p from 117p, Buy
Millennium & Copthorne   Hotels Jefferies ups TP   to 510p from 475p, Hold
Petropavlovsk Nomura downgrades   to reduce from Buy; TP to 240p from 760p
Polymetal International Nomura downgrades   to neutral from Buy; TP to 900p from 1530p
Randgold Resources Nomura cuts TP to   4650p from 7075p, reduce
Rathbone Brothers Canaccord Genuity   ups to Buy from Hold
Rotork Jefferies ups TP   to 3005p from 2600p, Hold
Senior Investec ups to   add from Hold; TP to 250p from 220p
Serco Group Jefferies ups TP   to 750p from 655p, Buy
Serco Group Liberum ups TP to   680p from 600p, Buy
Serco Group WestHouse   Securities downgrades to neutral from add
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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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
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