LONDON BROKER RATINGS: Tesco downgraded; Berenberg likes FirstGroup

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

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FTSE 100

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UBS cuts Phoenix Group price target to 640 (650) pence - 'neutral'

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Kepler Cheuvreux cuts 3i Group price target to 1,600 (1,700) pence - 'buy'

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UBS cuts Sage Group price target to 720 (835) pence - 'neutral'

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Credit Suisse cuts Tesco to 'neutral' (outperform) - price target 292 (321) pence

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Jefferies cuts Ashtead price target to 5,000 (8,000) pence - 'buy'

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Goldman Sachs raises Severn Trent price target to 2,784 (2,708) pence - 'sell'

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FTSE 250

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Citigroup raises PageGroup to 'buy' ('neutral') - target 600 pence

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Berenberg starts FirstGroup with 'buy' - price target 150 pence

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JPMorgan raises easyJet price target to 625 (600) pence - 'neutral'

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Goldman Sachs cuts easyJet price target to 830 (840) pence - 'buy'

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Jefferies raises Assura group price target to 79 (75) pence - 'buy'

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Berenberg cuts Cranswick price target to 4,000 (4,400) pence - 'buy'

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Deutsche Bank cuts Pets at Home target to 385 (430) pence - 'buy'

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Deutsche Bank cuts Marks & Spencer target to 165 (185) pence - 'hold'

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JPMorgan cuts Marks & Spencer price target to 180 (203) pence - 'neutral'

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JPMorgan raises Serco Group price target to 170 (155) pence - 'overweight'

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Liberum lifts Serco Group price target to 200 (180) pence - 'buy'

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Berenberg cuts Bodycote price target to 780 (1,030) pence - 'buy'

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SMALL CAP

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Jefferies cuts PayPoint price target to 770 (820) pence - 'buy'

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Jefferies cuts Gym Group price target to 330 (340) pence - 'buy'

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