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Upgrades/Downgrades - 29 November 2013

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Stock Broker Update
Anglo American Platinum CIBC ups to sector performer from sector underperformer
Aquarius Platinum Cibc cuts TP to 80p from 90p, sector outperformer
BT Group Jefferies ups TP to 435p from 430p, Buy
Euromoney Institutional Investor UBS ups to Buy from neutral, ups TP to 1350p from 1070p
Kingfisher S&P Capital IQ cuts TP to 410p from 425p, Hold
Kingfisher HSBC cuts TP to 460p from 480p, overweight
Londonmetric Property Jefferies ups TP to 127p from 116p, Hold
Lonmin CIBC cuts TP to 430p from 480p, sector outperformer
Rio Tinto SocGen ups TP to 4010p from 3775p, Buy
Sylvania Platinum CIBC cuts TP to 12p from 15p, sector outperformer
Wolseley Raymond James ups TP to 2900p from 2820p, underperform
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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