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Upgrades/Downgrades - 9 April 2013

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African Barrick Gold Numis ups to Buy from add; cuts TP to 250p from 420p
Antofagasta Numis cuts TP to 1000p from 1230p, Hold
Britvic Nomura ups TP to 540p from 480p, Buy
Diageo Nomura ups TP to 2400p from 2040p, Buy
Diageo Jefferies ups TP to 2,300p from 1,915p, Buy
Easyjet Morgan Stanley ups TP to 1,375p from 1,060p
Euro Airlines Morgan Stanley ups view on sector to attractive from in-line
Ferrexpo Numis ups to Buy from Hold; cuts TP to 220p from 290p
Fresnillo Numis ups to Buy from Hold; cuts TP to 1700p from 1900p
Henderson Group SocGen ups TP to 140p from 135p, sell
Hochschild Numis ups to Buy from Hold; cuts TP to 390p from 460p
Intertek HSBC ups TP to 3,600p from 2,940p, neutral
Journey Group WH Ireland initiates with Buy; TP 6.9p
Jupiter Fund Management SocGen ups TP to 330p from 315p, Hold
Kazakhmys Numis ups to Buy from Hold; cuts TP to 480p from 750p
Petropavlovsk Numis ups to Buy from Hold; cuts TP to 350p from 480p
Randgold Resources Numis cuts TP to 7500p from 8000p, Buy
Ryanair Morgan Stanley resumes coverage at overweight; TP 7.50 euros
SABMiller Nomura ups TP to 3,400p from 2,840p, neutral
SABMiller Investec ups TP to 3600p from 2720p, Hold
William Hill Nomura ups TP to 333p from 320p, reduce
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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