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ANALYST RATINGS CHANGES AS OF 1000 GMT

Last Update: 5/7/2008 5:58:08 AM

BROKER & NEW RATING (FROM) TARGET (PREVIOUS)
COMPANY
=========================================================
Bank Degroof:
Delhaize Accumulate (Buy)
=========================================================
Cheuvreux:
Tenaris Underperform (Outperform)
=========================================================
Citigroup:
Givaudan Sell (Buy) CHF950 (CHF1250)
Holcim CHF132 (CHF154)
ING Bank Slaski Buy (Sell) PLN620 (PLN649)
Novartis CHF57 (CHF50.5)
Restaurant Group Buy (Hold)
=========================================================
Credit Suisse:
Aberdeen Asset Mgmt Neutral (Outperform) 162P (243P)
Ashmore Group Underperform (Outperform) 268P (373P)
Banco de Sabadell EUR6.5 (EUR6.75)
Banco Pastor EUR9.5 (EUR10.75)
Banco Popular EUR11 (EUR11.75)
DnB NOR NOK97 (NOK101)
Fresenius Medical Care EUR40 (EUR38)
Lloyds TSB 460P (480P)
ThyssenKrupp EUR80 (EUR75)
Tullow Oil Neutral (Outperform) 783P (707P)
=========================================================
Deutsche Bank:
Tullow Oil 1040P (850P)
UBS Hold (Buy)
Vedanta 2690P (2640P)
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Dresdner Kleinwort:
A2A Hold EUR2.6
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Evolution:
Aberdeen Asset Mgmt Sell (Add) 130P (150P)
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Goldman Sachs:
HBOS 610P (748P)
Micro Focus 300P (265P)
Salamander Energy 423P (444P)
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Helvea:
Swiss Life Accumulate (Buy)
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ING:
Linde Buy EUR120
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JP Morgan:
Hypo Real Estate EUR25.85 (EUR29.7)
Invensys 335P (295P)
Veolia Environment Neutral (Overweight) EUR56 (EUR70)
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KBC:
Global Graphics Accumulate (Buy) EUR4 (EUR9)
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Lehman Bros:
British Land Equalweight (Underweight)
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Merrill Lynch:
Petroplus Neutral (Buy)
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Morgan Stanley:
Croda International 780P (770P)
Tullow Oil 1090P (770P)
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Numis:
Rightmove 452P (487P)
Weir Group 966P (853P)
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UBS:
Bulgari EUR9 (EUR10)
Deutsche Boerse EUR112 (EUR124)
Hannover Re EUR36 (EUR33)
Novabase Neutral (Buy) EUR5 (EUR4)
Rightmove 430P (560P)
=========================================================

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