>>> Brokers Upgrades & Downgrades -05/02/2014

>>> Up
*ALMARAI RAISED TO OVERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY
*ARCELORMITTAL RAISED TO OVERWEIGHT AT HSBC
*ARKEMA RAISED TO BUY VS HOLD AT BERENBERG
*BBVA RAISED TO OVERWEIGHT AT HSBC
*GIVAUDAN RAISED TO HOLD VS SELL AT BERENBERG
*HISCOX RAISED TO BUY VS REDUCE AT NOMURA
*JD WETHERSPOON RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*MASSMART HOLDINGS RAISED TO NEUTRAL VS SELL AT GOLDMAN
*RSA Raised to Equalweight at Barclays on Hester Joining as CEO
*RSA INSURANCE RAISED TO MARKET PERFORM AT RAYMOND JAMES
*SYMRISE RAISED TO BUY VS HOLD AT BERENBERG
*TUPRAS RAISED TO BUY VS NEUTRAL AT BOFAML

>>> Down
*DIXY GROUP CUT TO NEUTRAL VS BUY AT GOLDMAN
*FREENET CUT TO HOLD VS BUY AT BANKHAUS LAMPE
*LAFARGE CUT TO NEUTRAL VS BUY AT CITI
*LANCASHIRE CUT TO REDUCE VS NEUTRAL AT NOMURA
*MIGROS TICARET CUT TO NEUTRAL VS BUY AT GOLDMAN
*MLP AG CUT TO SELL VS HOLD AT BANKHAUS LAMPE
*PHILIPS CUT TO HOLD VS BUY AT ING
*THYSSENKRUPP CUT TO UNDERWEIGHT AT HSBC

>>> PT change
*CNH Industrial PT Cut to EU10 vs EU10.5 at Barclays
*FAURECIA PT RAISED TO EU35 VS EU30 AT EXANE; TOP SUPPLIER PICK
*LVMH PT RAISED TO EU163 VS EU150 AT BERENBERG, KEEPS BUY

>>> Initiation
*DE LONGHI RATED NEW BUY AT BERENBERG; PT EU19
*GENERALI REINITIATED AT HOLD AT KEPLER CHEUVREUX; PT EU15.7
*KAZAKHMYS REINSTATED NEUTRAL AT CITI, PT CUT TO 200P VS 280P

>>> Call
>> Stock
*ABB ADDED TO EUROPE 1 LIST AT BOFAML
*ING ADDED TO EUROPEAN FOCUS LIST AT CREDIT SUISSE
*PROSIEBENSAT.1 ADDED TO CONVICTION BUY LIST AT GOLDMAN
*ROCKHOPPER REMOVED FROM CONVICTION BUY AT GOLDMAN; STILL BUY