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Upgrades/Downgrades - 30 January 2013

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Capital & Counties Properties Jefferies cuts TP to 235p from 241p
Grainger Jefferies ups TP to 148p from 127p, Buy
Hammerson Jefferies cuts TP to 476p from 499p, Hold
Workspace Group Jefferies ups TP to 317p from 287p, Hold
WPP Jefferies ups to Buy from Hold; TP to 1,150p from 800p
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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