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Broker Roundup: JP Morgan reviews mining sector
Citigroup downgrades Schroders and Bank of America downgrades Kingfisher.
Markets
* JP Morgan, in a review of the mining sector, has an overweight and £15 target for Xstrata, an overweight and £40 target in Vedanta Resources, an overweight in African Barrick Gold, raising target to 755p from 700p and an overweight and £49 target for Rio Tinto.
The broker has downgraded BHP Billiton, Lonmin and Fresnillo to underweight from neutral
* UBS equity strategy upgrades tech hardware to overweight from underweight and upgrades software to overweight from neutral
* JP Morgan has a neutral and £13.50 target for GlaxoSmithKline
* Citigroup upgrades Drax Group to hold from sell, raising target to 406p from 395p, upgrades Aggreko to buy from hold, raising target to £17.33 from £14.50, downgrades Schroders to sell from buy, cutting target to £12 from £13.65, has a buy for Fresnillo, raising target to £12.25 from 860p, a hold for Aberdeen Asset management, cutting target to 150p from 152p
* Deutsche Bank initiates coverage of Shire with a buy and £16.50 target, initiates coverage of Irish Life and Permanent with a buy and €2.90
* Nomura resumes coverage of Prudential with a neutral, raising target to 700p from 680p
* UBS has a buy for Unilever NV, raising target to €25.4 from €23.8, a buy for WH Smith, cutting target to 490p from 470p and removes London Stock Exchange from its least preferred list
* RBS has a buy for Weir Group, raising target to £13.37 from £11.94
* KBW has an outperform for Barclays, cutting target to 400p from 420p
* ING has a buy for BSkyB, raising target to 765p from 500p
* Bank of America downgrade Kingfisher to neutral from buy
* Shore Capital has buys for Man Group, Home Retail, N Brown and Bunzl, a hold for Sainsbury and a sell for Mouchel
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