Panmure Gordon has kept its 'buy' rating and 1,500p target price for easyJet after a strong pre-close trading update from the budget airline on Thursday morning."We believe that the long-term prospects for this business remain exciting. The company has a strong structural cost advantage over most of its competitors, creating a highly attractive value proposition," said analyst Gert Zonneveld.Credit Suisse has cut its recommendation for SABMiller from 'outperform' to 'neutral' and cut its target price from 3,800p to 3,250p, saying that the stock trades at a premium to the sector.The bank said its 12% premium to the sector is "unwarranted" due to: " i) potential for further earnings per share downgrades; and ii) possible continued emerging-market (EM) FX volatility."Analysts at Citigroup have upgraded their rating for supermarket group Tesco from 'sell' to 'neutral' following the release of the company's first-half results, saying that negatives have already been priced in to the stock.The bank said: "Tesco has held its rating relative to Morrison but de-rated somewhat against Sainsbury. The market - we would suggest - understands perfectly well that all the incumbent UK grocers face earnings uncertainty in the future as discounter encroachment makes 'the day of reckoning' on industry gross margins an ever more realistic near-term prospect. We fully concur that the outlook for industry earnings looks bleak but, to a substantial degree, we think this may now be in the price."BC