International Consolidated Airlines Group: Citigroup downgrades from buy to neutral with its target price at 210p. Credit Suisse raises target price from 184p to 259p and upgrades from neutral to outperform. Nomura ups target price from 265p to 283p, while its buy rating is unaltered.
Craneware: Investec moves target price from 475p to 410p and stays with its hold rating. Numis upgrades to hold with its target price still at 405p. N+1 Singer ups target price from 365p to 425p retaining its buy recommendation.
The depressed retail environment in the UK and the Netherlands has made it tough for K3 to close the retail deals required to meet FY13 forecasts. The company notes that its other business lines are performing well. K3 continues to invest in its AX for Retail solution, which should generate returns in the longer term, but based on the short-term outlook,
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