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Upgrades/Downgrades - 26 April 2013

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

British American tobacco Nomura  ups TP to 4014p from 4012p; Buy
Ladbrokes Jefferies cuts TP to 230p from 265p; Buy
AstraZeneca Bernstein cuts TP to 3474p from 3563p; Market perform
SDL Canaccord Genuity cuts TP to 372p from 400p; Hold
Unilever NV Berenberg ups TP to €36 from €35; Buy
Unilever NV ING ups TP to €31.50 from €28.50; Hold
Unilever NV Kepler ups tp to €35 from €33; Buy
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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