>>> Brokers Upgrades & Downgrades : 11/12/13 (Makor Xmas party tonight)

>>> Up
*ALCATEL-LUCENT RAISED TO BUY VS NEUTRAL AT CITI
*ELIA SYSTEM OPERATOR RAISED TO OVERWEIGHT AT MORGAN STANLEY
*MAUREL & PROM RAISED TO BUY VS NEUTRAL AT GOLDMAN---> Full note attached
*NOKIA RAISED TO BUY VS NEUTRAL AT CITI
*VIVENDI RAISED TO OUTPERFORM VS MARKET PERFORM AT BERNSTEIN



>>> Down
*BILFINGER CUT TO NEUTRAL VS BUY AT UBS
*ENZYMOTEC CUT TO UNDERPERFORM VS BUY AT BOFAML
*ERICSSON CUT TO NEUTRAL VS BUY AT CITI
*KENTZ CORP CUT TO HOLD VS BUY AT LIBERUM
*NOBIA CUT TO HOLD VS BUY AT NORDEA
*SOCO INTERNATIONAL CUT TO SELL VS NEUTRAL AT GOLDMAN---> Full note attached

>>> PT Change
*Buzzi Unicem PT Raised to EU16 vs EU13.2 at Deutsche Bank
*Eni PT Cut to EU17.8 vs EU19.1 at Morgan Stanley
*Italcementi PT Raised to EU6 vs EU5.5 at Deutsche Bank
*Pandora Investor Event Positive, JPMorgan Says; Raises PT 5%


>>> Initiation
*ALROSA RATED NEW BUY AT UBS, PT 42 RUBLES
*BLUE SOLUTIONS RATED NEW HOLD AT KEPLER CHEUVREUX; PT EU16
*ERICSSON RATED NEW BUY AT MIZUHO, PT $15
*NOKIA RATED NEW NEUTRAL AT MIZUHO, PT $8
*ROMGAZ RATED NEW NEUTRAL AT GOLDMAN, PT $12.7
*TRUSTBUDDY RATED NEW BUY AT LIBERUM, PT SEK8
*World Duty Free Prospects Strong, Initiated at Buy at Nomura


>>> Country Sector Stock call
>> Stocks
*ASHTEAD REMOVED FROM UBS’S MOST PREFERRED LIST
*AVEVA CUT FROM CONVICTION BUY AT GOLDMAN, STILL A BUY
*MAERSK CUT FROM CONVICTION BUY AT GOLDMAN, STILL BUY
*Enel, EDP Preferred Southern Europe Utilities at Morgan Stanley
>> Strategy
*BofAML Sees S&P 500 at 2,000 by End-2014