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Upgrades/Downgrades - 9 October 2013

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For a more detailed explanation of Upgrades/Downgrades see Link

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

Stock Broker Update
Barratts Goldman Sachs upgrades to Buy from Neutral
Bovis Homes Goldman Sachs upgrades to Buy from Neutral
Cairn Energy Exane BNP Paribas upgrades to Outperform from Neutral; ups TP to 333p from 323p
Close Brothers Berenberg Bank ups TP to 1330p from 1150p; Buy
Compass Group Deutsche Bank cuts TP to 967p from 1000p; Buy
Crest Nicholson Goldman Sachs initiates coverage with a Buy
Great Portland Estates Barclays ups TP to 663p from 523p; Overweight
Intercontinental Hotels Nomura cuts TP to 1880p from 2066p; Neutral
ITV UBS ups TP to 205p from 175p; Buy
Ladbrokes Jefferies downgrades to Hold from Buy: cuts TP to 170p from 230p
LSL Property Services Goldman Sachs initiates coverage with a Buy
Rotork Barclays upgrades to Overweight from Equalweight; TP 3315p from 2840p
Savills Goldman Sachs initiates with a Neutral; tp 767P
Taylor Wimpey Pamure Gordon upgrades to Hold from Sell; ups TP to 100p from 89p
Taylor Wimpey Goldman Sachs adds to conviction Buy List
Tesco Goldman Sachs cuts TP to 375p from 390p; Neutral
Wolseley Deutsche Bank ups TP to 3551p from 3400p; Buy
YouGov Numis upgrades to Buy 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.

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