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Upgrades/Downgrades - 6 February 2014

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For a more detailed explanation of Upgrades/Downgrades see Link

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

Stock Broker Update
Petrofac Goldman Sachs cuts TP to 1417p from 1509p; Bu/Cautious
Wood Group Goldman Sachs cuts TP to 800p from 852p; Buy/Cautious
Rotork Goldman Sachs cuts TP to 3270p from 3600p; Buy/Neutral
GlaxoSmithKline S&P Capital upgrades to Buy from Hold; Ups TP to 1700p from 1680p
GlaxoSmithKline Deutche Bank cuts TP to 1620p from 1700p; Hold
Lonmin RBC upogrades to Outperform from Underperform; Ups TP to 370p from 310p
Aberdeen Asset Management RBC cuts TP from 485p from 550p; Outperform
Rathbone Brothers Numis cuts TP to 1556p from 1640p; Hold
Hargreaves Lansdowne Jefferies downgrades to Hold from Buy; Ups TP to 1250p from 1150p
Carnival HSBC upgrades to Overweight from Neutral; Ups TP to 2800p from 2120p
ARM Holdings HSBC cuts TP to 1080p from 1120p; Overweight
Tui Travel HSBC ups TP to 430p from 365p; Neutral
Whitbread HSBC ups TP to 4200p from 3900p; Overweight

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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