Wednesday broker round-up

Date: Wednesday 11 Jul 2012

ASOS: HSBC downgrades to neutral, target lifted from 1,780p to 1,950p.

Avanti Communications: Jefferies reiterates buy rating and 600p target.

Aviva: Morgan Stanley upgrades to overweight.

Balfour Beatty: UBS downgrades to neutral, target cut from 340p to 310p.

BTG: Jefferies downgrades from buy to hold, target left at 410p.

Burberry: Nomura cuts target from 1,530p to 1,450p, buy recommendation maintained; Merchant Securities keeps hold rating; Investec keeps buy rating and 1,690p target.

Centrica: Morgan Stanley downgrades to equal weight, target cut from 340p to 325p.

Croda International: UBS downgrades to neutral, target increased from 2,280p to 2,300p.

Derwent London: Jefferies keeps hold rating and 1,786p target.

Drax Group: Morgan Stanley upgrades to equal weight, target lifted from 410p to 625p.

Gulf Keystone: HSBC upgrades to overweight, target cut from 280p to 264p.

Hays: Jefferies reduces target from 120p to 110p, buy rating retained.

ICAP: Singer Capital Markets puts buy rating and 470p target under review.

ITV: Deutsche Bank cuts target from 95p to 80p, hold rating kept.

JD Wetherspoon: Nomura reiterates reduce rating and 350p target; Investec ups target from 536p to 550p, buy rating kept.

Johnson Matthey: UBS downgrades to neutral, target cut from 2,700p to 2,350p.

Lloyds: Liberum Capital downgrades to sell, target cut from 29p to 28p.

Marks & Spencer: Investec keeps sell rating and 275p target.

Micro Focus: UBS downgrades to neutral, target lifted from 560p to 570p; Investec lifts target from 600p to 520p, buy rating kept.

Mondi: Jefferies keeps buy rating and 665p target.

Rolls-Royce: Jefferies reiterates buy rating and 950p target.

SSE: Morgan Stanley downgrades to underweight, target cut from 1,280p to 1,210p.

Thorntons: Merchant Securities maintains hold recommendation; Investec keeps hold rating and 25p target.

WPP: Societe Generale initiates coverage with buy rating and 980p target.

BC

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