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Upgrades/Downgrades - 8 August 2013

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For a more detailed explanation of Upgrades/Downgrades see Link

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

Company Broker Update
Big Yellow Group Goldman Sachs ups TP to 485p from 444p; Buy/Neutral
Burberry Investec downgrades to Hold from Buy; Cuts TP to 1330p from 1690p
Enterprise Inns Panmure Gordon downgrades to Hold from Buy; TP 123p maintained
Esure HSBC upgrades to Neutral from underweight; Cuts TP to 290p from 306p
Ferrexpo Goldman Sachs downgrades to Neutral/cautious from Buy/cautious; Cuts TP to 200p from 210p
GKN Goldman Sachs ups TP to 409p from 322p; Neutral/Attractive
International Personal Finance JPMorgan raises TP to 627p from 519p; Neutral
Mondi Jefferies ups TP to 1150p from 1000p; Buy
Randgold Resources Goldman Sachs cuts TP 5650p from 5900p; Neutral/neutral
Reckitt Benckiser Oriel Securities Upgrades to Buy from Add; Ups TP to 5200 from 4700p
Rotork Jefferies upgrades to Buy from hold; Ups TO to 3330p from 3005p
Royal Dutch Shell Credit Suisse cuts TP to 2320p from 2500p; Outperform
Travis Perkins UBS ups TP to 1800p from 1500p; Neutral
Vedanta Liberum downgrades to Hold from 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.

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