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Upgrades/Downgrades - 8 April 2014

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Stock Broker Update
Anglo American Morgan Stanley cuts TP to 1530P from 1560P, Equalweight
Aquarius Platinum CIBC cuts TP to 60P from 80P, sector outperformer
BHP Billiton Morgan Stanley cuts pice TP to 2110P from 2130P, overweight
DP World Nomura ups TP to 1320p from 1165p, Buy
Glencore Xstrata Morgan Stanley cuts TP to 334P from 347P, equal weigt
Lonmin CIBC ups TP to 450P from 430P, sector outperformer
Mothercare Cantor cuts TP to 151p from 200p, sell
Synthomer JP Morgan downgrades to underweight from neutral, cuts TP to 230p from 260p
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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