Broker roundup: Goldman downgrades Tate & Lyle to sell

*Morgan Stanley upgraded Go-Ahead and Stagecoach to overweight from equal-weight and underweight respectively. It cut First Group to underweight from overweight. Separately, it downgraded Aegis to underweight from equal-weight.

*Goldman Sachs upgraded Smith & Nephew to buy from neutral but cut Wolseley to sell from neutral.

*UBS has raised International Power to buy from sell. It cut British Airways to neutral from buy and Tate & Lyle to sell from neutral.

*Merrill Lynch repeated its underperform view on Tate & Lyle and cut its target to 325p from 365p.

*Citigroup downgraded London Stock Exchange to sell from hold 

*JP Morgan cut Friends Provident to neutral form overweight.

*Cazenove has cut its dividend forecasts for a number of UK real estate companies.  It cut its forecast for SEGRO by 15% and Liberty International by 24%. Its favourite sector plays from a cash flow perspective are British Land and Hammerson. The broker repeated its underperform view on Kazakhmys. It has outperform views on Johnson Matthey, Greene King, Legal & General.

*Numis put its ratings on Cookson and Xstrata under review after the pair confirmed rights issue moves.