Hays: Barclays initiates at outperform.

Morgan Crucible: Goldman Sachs upgrades to buy from neutral.

Hargreaves Lansdown: Citi cuts to neutral from buy.

Cairn Energy: Investec keeps hold, target cut from 333p to 291p.

Betfair: UBS raises target from 620p to 625p, sell rating unchanged.

Logica: Investec keeps hold and 75p target; UBS downgrade from buy to neutral, cuts target from 95p to 64p.

Ultra Electronics: UBS downgrades from neutral to sell, target cut from 1,500p to 1,250p.

Cable & Wireless Worldwide: UBS cuts target from 26p to 18p, neutral recommendation unchanged.

Cobham: UBS cuts target from 245p to 225p, buy rating kept.

Innovation Group: Investec reiterates buy and 24p target.

Keller Group: Investec reiterates buy an 500p target.

Cohort: Investec maintains buy stance and 140p target.

Treatt: Investec retains hold rating and 335p target.

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