JP MORGAN
Reiterates Underweight Dixons, cuts estimates -- Neutral Kesa, cuts forecasts -- Underweight Barratt Developments, raises estimates
NUMIS SECURITIES
Upgrades to Add from hold Antofagasta, ups target to 1,485 pence from 1,428 -- Hold Cairn Energy, ups target to 1,270 pence from 1,210

DRESDNER KLEINWORT
Downgrades to Add from buy Mothercare

MORGAN STANLEY
Reiterates as Underweight Sainsbury, post-trading update -- Equal-weight Altana, ups estimates -- Equal-weight Deutsche Telekom. 17.50 eur target, ups estimates -- Underweight Wm Morrison, cuts estimates -- Equal-weight 3i Group, cuts NAV estimates

MERRILL LYNCH
Reiterates Buy Cairn Energy, ups target to 1,450 pence -- Downgrades to Neutral from buy Marshalls -- Initiates as Sell JD Wetherspoon -- Sell Wm. Morrison, cuts estimates -- Buy Mediaset, ups estimates

PANMURE GORDON
Reiterate Sell Sainsbury, ups target to 230 pence from 200 -- Buy Topps Tiles, cuts target to 220 pence from 280 -- Buy Next, target 1,750 pence, cuts estimates


GOLDMAN SACHS
Reiterate In-line ABB, cuts estimates -- Underperform Alleanza, cuts estimates -- Underperform Benetton, cuts estimates -- In-line Heidelberg Cement, ups estimates -- In-line Lindt & Sprungli, ups estimates -- Underperform Lukoil, ups estimates -- Underperform Mediolanum, cuts estimates -- Outperform MTS, cuts estimates -- In-line Next, ups estimates -- Underperform Pilkington, ups estimates -- Outperfrom SABMiller, adjusts estimates -- In-line SibNeft, ups estimates -- In-line Virgin Mobile, cuts estimates -- In-line Vodafone, ups estimates -- In-line Woolworths, ups estimates -- Outperform Swatch, cuts estimates -- Outperform Bank of Ireland, cuts estimates

Cheers Digger!
:>)