>>> Brokers Upgrades & Downgrades - 05/09/2014

>>> Up
*AMEC RAISED TO OVERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY
*ATRESMEDIA RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*GDF SUEZ ADDED TO TOP PICKS AT MORGAN STANLEY
*HENKEL RAISED TO OUTPERFORM VS NEUTRAL AT EXANE BNP PARIBAS
*ING RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*INTESA SANPAOLO RAISED TO BUY VS NEUTRAL AT CITI
*INTESA SANPAOLO ADDED TO CITI FOCUS LIST EUROPE
*JULIUS BAER RAISED TO BUY VS NEUTRAL AT UBS
*LEONTEQ RAISED TO NEUTRAL VS SELL AT UBS
*MEDIASET ESPANA RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*QSC RAISED TO BUY VS HOLD AT BANKHAUS LAMPE
*RANDSTAD RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*SAFILO RAISED TO BUY VS HOLD AT BANCA AKROS; PT CUT TO EU14.7
*SUPERGROUP RAISED TO BUY VS NEUTRAL AT BOFAML
*SKF RAISED TO BUY VS NEUTRAL AT SWEDBANK
*VALLOUREC RAISED TO EQUALWEIGHT AT MORGAN STANLEY
*UNITED SPIRITS RAISED TO UNDERPERFORM FROM SELL AT CLSA

>>> Down
*BILFINGER CUT TO HOLD VS BUY AT BANKHAUS LAMPE
*CAPITA CUT TO NEUTRAL VS BUY AT UBS
*COCA-COLA HBC CUT TO NEUTRAL VS BUY AT GOLDMAN
*CREDIT SUISSE CUT TO NEUTRAL VS BUY AT UBS
*DANSKE BANK REMOVED FROM CITI FOCUS LIST EUROPE
*ELRINGKLINGER CUT TO SELL VS NEUTRAL AT GOLDMAN SACHS
*KBC CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*MTN GROUP CUT TO NEUTRAL VS BUY AT BOFAML
*NEOPOST RAISED TO BUY VS NEUTRAL AT NATIXIS
*NORD GOLD CUT TO HOLD AT DEUTSCHE BANK
*NORDEA CUT TO NEUTRAL VS BUY AT SWEDBANK
*PETROFAC CUT TO EQUALWEIGHT VS OVERWEIGHT AT MORGAN STANLEY
*SUBSEA 7 CUT TO UNDERWEIGHT AT MORGAN STANLEY
*STATOIL RAISED TO NEUTRAL VS UNDERWEIGHT AT HSBC
*SWEDISH MATCH CUT TO SELL VS HOLD AT DEUTSCHE BANK
*VIENNA INSURANCE CUT TO UNDERPERFORM VS NEUTRAL: CREDIT SUISSE

>>> PT changes
*SAFILO RAISED TO BUY VS HOLD AT BANCA AKROS; PT CUT TO EU14.7

>>> Call
*GDF SUEZ ADDED TO TOP PICKS AT MORGAN STANLEY
*DANSKE BANK REMOVED FROM CITI FOCUS LIST EUROPE
*INTESA SANPAOLO ADDED TO CITI FOCUS LIST EUROPE
*ITALIAN BANKS RAISED TO OVERWEIGHT AT CITI