Wednesday broker round-up - UPDATE

Date: Wednesday 16 Nov 2011

Michael Page: HSBC upgrades to overweight from neutral.

Reckitt Banckiser: Citi reiterates buy.

Cairn Energy: Societe Generale initiates at buy.

Royal Bank of Scotland: AlphaValue downgraded to add from buy yesterday and lowered the price target to £24.60from £29.80.

ARM Holdings: UBS raises target from 615p to 620p, neutral rating maintained.

BHP Billiton: UBS cuts target from 2,800p to 2,700p, buy recommendation unchanged.

Anglo American: Credit Suisse reiterates neutral recommendation and 3,500 target.

Lonmin: UBS reduces target from 1,025p to 1,000p, sell rating maintained.

Carillion: Peel Hunt downgrades from buy to hold, target cut from 415p to 350p.

Reed Elsevier: Nomura maintains buy and 668p target.

Reed Elsevier: Investec keeps buy and 640p target.

Morrison: Nomura reiterates buy rating and 350p target.

Paddy Power: Evolution Securities retains neutral rating and €38 target.

Paddy Power: Investec raises target from €40 to €50, buy rating unchanged.

Premier Oil: Credit Suisse ups target from 484p to 490p, outperform stance kept.

Drax: UBS raises target from 585p to 595p, buy rating kept.

European Goldfields: Investec cuts target from 1,047p to 1,002p, buy recommendation maintained.

Homeserve: Peel Hunt cuts target from 280p to 240p, sell rating retained.

easyJet: Credit Suisse raises target from 412p to 463p, outperform rating retained.

easyJet: UBS ups target from 435p to 450p, still a buy.

Barratt Developments: Evolution Securities maintains buy rating and 120p target.

Melrose: Evolution Securities keeps buy recommendation and 380p target.

ENK: Evolution Securities reiterates buy rating and 50p target.

UK Mail Group: Investec cuts target from 305p to 270p, buy unchanged.

Trinity Mirror: Investec raises target from 104p to 114p, buy rating kept.

Game Group: Peel Hunt downgrades from buy to hold, target slashed from 50p to 20p.

Game Group: Investec puts buy rating and 45p target under review.

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