>>> Brokers Upgrades & Downgrades - 04/02/2014

>>> Up
*BBA AVIATION RAISED TO OVERWEIGHT AT MORGAN STANLEY
*BERENDSEN RAISED TO OUTPERFORM AT RBC CAPITAL
*BMW RAISED TO OVERWEIGHT AT HSBC
*LANXESS RAISED TO BUY VS HOLD AT BERENBERG
*LEGRAND RAISED TO HOLD VS SELL AT BERENBERG
*ROSNEFT RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*SAINSBURY’S RAISED TO OUTPERFORM VS MARKET PERFORM AT BERNSTEIN
*SKY DEUTSCHLAND RAISED TO BUY VS HOLD AT BERENBERG


>>> Down
*ANGLO AMERICAN PLATINUM CUT TO SELL VS NEUTRAL AT CITI
*AURUBIS CUT TO HOLD VS BUY AT SOCGEN
*BASHNEFT PREF CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*BASHNEFT CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*BERKELEY GROUP CUT TO UNDERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*ENI CUT TO UNDERWEIGHT VS OVERWEIGHT AT JPMORGAN
*GARANTI CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*GURIT CUT TO SELL VS NEUTRAL AT UBS
*LLOYDS BANKING GROUP CUT TO NEUTRAL VS OUTPERFORM AT MEDIOBANCA
*PREMIER FARNELL CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*REPSOL CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*VW CUT TO NEUTRAL AT HSBC

>>> PT Change
*COLRUYT PT CUT TO EU38.50 FROM EU39.50 AT ING
*FERRAGAMO PT CUT TO EU33 VS EU34.3 AT GOLDMAN; KEPT AT BUY
*Julius Baer PT Cut to CHF41.9 at Mediobanca; Kept at Neutral
*PREMIER FARNELL PT CUT TO 250P FROM 275P AT CANTOR; KEPT AT BUY
*Tod’s PT Cut to EU125 vs EU140 at Credit Suisse

>>> Initiation
*INNATE PHARMA INITIATED AT CONVICTION BUY AT GOLDMAN; PT EU18
*PORSCHE SE RATED NEW BUY AT BERENBERG; PT EU100

>>> Call
>> Stock
*BRITVIC ADDED TO CITI UK SMALL & MID-CAP KEY BUY LIST
*MONEYSUPERMARKET EXITS CITI UK SMALL & MID-CAP KEY BUY LIST
*SIBANYE GOLD ADDED TO CEEMEA FOCUS LIST AT GOLDMAN