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Upgrades/Downgrades - 24 May 2013

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For a more detailed explanation of Upgrades/Downgrades see Link

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

AVEVA Group UBS ups TP to 2300p from 2160p, neutral
AVEVA Group Investec ups TP to 2500p from 2450p, Buy
Barratt Developments UBS ups TP to 365p from 320p, Buy
Barratt Developments UBS ups TP to 365p from 320p, Buy
Carphone Warehouse UBS ups TP to 280p from 220p, Buy
Firstgroup Jefferies cuts TP to 150p from 190p, Hold
Flybe Group HSBC ups TP to 60p from 50p, neutral
Next Morgan Stanley downgrades to underweight from Equalweight
Rightmove UBS ups TP to 2400p from 1900p, Buy
Salamander Energy Jefferies cuts TP to 280p from 300p, Buy
Salamander Energy Finncap downgrades to Hold from Buy
Thomas Cook Panmure ups to Buy from sell, ups TP to 164p from 54p
Vedanta Resources Citigroup ups TP to 1280p from 1200p, neutral
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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