>>> Up
*ASTRAZENECA RAISED TO NEUTRAL VS UNDERWEIGHT AT JPMORGAN
*EUTELSAT RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*GENERALI RAISED TO BUY VS HOLD AT BERENBERG
*HIKMA PHARMACEUTICALS RAISED TO BUY VS HOLD AT JEFFERIES
>>> Down
*BNP PARIBAS CUT TO SECTOR PERFORM AT RBC CAPITAL
*GLAXOSMITHKLINE CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*GRIFOLS CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*MARKS & SPENCER CUT TO HOLD VS BUY AT SOCGEN
*SANOFI CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
>>> PT Changes
>>> Initiation
*INDIVIOR RATED NEW BUY AT CITI, PT 240P
*RAI WAY RATED NEW OUTPERFORM AT CREDIT SUISSE, PT EU3.50
>>> Call
>> Stock
Soc. Gen Top Pick for 2015 : Accor, ArcelorMittal, Aviva, AXA, Credit Agricole, Deutsche Annington, EDF, Enel, Inditex, Intesa Sanpaolo, Nokia, Renault, Rio Tinto, Royal Dutch Shell, Vinci.