>>> Brokers Upgrades & Downgrades

>>> Up
*AVEVA RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*CENTRICA RAISED TO OUTPERFORM VS SECTOR PERFORM AT RBC
*DRAGON OIL RAISED TO NEUTRAL VS UNDERPERFORM AT BOFAML
*HARGREAVES LANSDOWN RAISED TO NEUTRAL AT CREDIT SUISSE
*HERMES RAISED TO HOLD VS SELL AT DEUTSCHE BANK
*INDRA RAISED TO NEUTRAL VS UNDERWEIGHT AT JPMORGAN
*K+S RAISED TO NEUTRAL VS REDUCE AT NOMURA
*LUXOTTICA RAISED TO BUY VS HOLD AT DEUTSCHE BANK
*NOBEL BIOCARE RAISED TO BUY VS NEUTRAL AT CITI

>>> Down
*AIR FRANCE CUT TO NEUTRAL VS BUY AT UBS
*ALLIANZ CUT TO SELL VS HOLD AT SOCGEN
*BURBERRY CUT TO NEUTRAL VS OUTPERFORM AT CREDIT SUISSE
*LANXESS CUT TO REDUCE VS NEUTRAL AT NOMURA
*PERNOD-RICARD CUT TO UNDERPERFORM VS NEUTRAL AT EXANE
*SAFILO CUT TO HOLD VS BUY AT DEUTSCHE BANK
*SPECTRIS CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*SSE CUT TO UNDERPERFORM VS SECTOR PERFORM AT RBC


>>> PT Change
*K+S PT RAISED TO EU30 VS EU24 AT MACQUARIE, STAYS OUTPERFORM

>>> Initiation
*DASSAULT SYSTEMES RATED NEW OVERWEIGHT AT JPMORGAN; PT EU110

>>> Call
>> Stock
*LUFTHANSA ADDDED TO UBS’S MOST PREFERRED LIST