>>> Brokers Upgrades & Downgrades - 02/04/201

>>> Up
*AMEC RAISED TO EQUALWEIGHT VS UNDERWEIGHT AT MORGAN STANLEY
*ASSA ABLOY RAISED TO BUY VS HOLD AT PARETO SECURITIES
*AURUBIS RAISED TO BUY FROM HOLD AT BANKHAUS LAMPE
*IP GROUP RAISED TO BUY VS HOLD AT NUMIS
*MONCLER RAISED TO NEUTRAL VS SELL AT UBS
*NESTLE RAISED TO OUTPERFORM VS MARKET PERFORM AT BERNSTEIN
*SALZGITTER RAISED TO BUY FROM HOLD AT BANKHAUS LAMPE
*STRABAG RAISED TO NEUTRAL VS SELL AT GOLDMAN
*UNITED INTERNET RAISED TO BUY VS HOLD AT BANKHAUS LAMPE

>>> Down
*ARCELORMITTAL CUT TO NEUTRAL VS OUTPERFORM AT CREDIT SUISSE
*GSW IMMOBILIEN CUT TO SELL VS HOLD AT BANKHAUS LAMPE
*I Grandi Viaggi Cut to Hold vs Accumulate at Banca Akros
*KLOECKNER CUT TO SELL FROM HOLD AT BANKHAUS LAMPE
*METSO CUT TO HOLD VS BUY AT NORDEA
*SKW STAHL-METALLURGIE CUT TO SELL FROM HOLD AT BANKHAUS LAMPE
*SUPERGROUP CUT TO NEUTRAL VS BUY AT BOFAML
*THYSSENKRUPP CUT TO SELL FROM HOLD AT BANKHAUS LAMPE

>>> PT Changes
*Finmeccanica PT Raised to EU7.5 at UBS; Kept at Neutral
*TOD’S PT RAISED 4% TO EU94 AT BARCLAYS; KEPT AT UNDERWEIGHT

>>> Initiation
*BANKIA RATED NEW NEUTRAL AT CREDIT SUISSE; PT EU1.45
*DUFRY RATED NEW UNDERWEIGHT AT JPMORGAN; PT CHF141
*GAM HOLDING RATED NEW OUTPERFORM AT MEDIOBANCA; PT CHF17.3
*WORLD DUTY FREE RATED NEW NEUTRAL AT JPMORGAN; PT EU11.6

>>> Call