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Upgrades/Downgrades - 3 July 2013

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For a more detailed explanation of Upgrades/Downgrades see Link

Key: (?) = Upgraded, (?) = Downgraded, (-) = Maintained

ARM Holdings UBS ups to Buy from neutral
Aveva Citigroup names as a most preferred stock
British Land Jefferies cuts TP to 540p from 554p, Hold
Cineworld Investec ups TP to 360p from 347p, Buy
Derwent London Jefferies ups TP to 2406p from 2375p, Hold
Falkland Oil and Gas RBC initiates with outperform rating; TP of 50p
Grainger Jefferies ups TP to 177p from 176p, Buy
Great Portland Jefferies ups TP to 522p from 516p, Hold
Hammerson Jefferies cuts TP to 505p from 539p, Hold
Hansteen Jefferies ups TP to 88p from 87p, Hold
Homeserve Citigroup names as a least preferred stock
Inchcape Nomura ups TP to 500p from 485p, neutral
Intu Properties Jefferies cuts TP to 314p from 317p, Hold
Land Securities Jefferies cuts TP to 908P from 924P, Hold
London Stock Exchange Morgan Stanley resumes coverage with overweight
Londonmetric property Jefferies cuts TP to 105p from 110p, Hold
Ocado Jefferies ups TP to 275p, Hold
Ophir Energy HSBC cuts TP to 558p from 530p, overweight
Persimmon Deutsche Bank ups TP to 1202p from 1060p
Randgold Resources Citigroup downgrades to neutral from sell; ups TP to 4491p from 3926p
Randgold Resources Citigroup ups to neutral from sell; TP to 4491p from 3926p
Segro Jefferies cuts TP to 244p from 245p, Hold
Shaftesbury Jefferies ups TP to 566p from 560p, Hold
Stagecoach Morgan Stanley ups TP to 330p from 310p, Equalweight
SuperGroup Investec ups TP to 878p from 843p, Buy
Unite Group Jefferies ups TP to 450p from 425p, overweight
Unite Group JP Morgan ups TP to 450p from 425p, overweight
Workspace Jefferies ups TP to 385p from 380p, 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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