>>> Brokers Upgrades & DOwngrades - 16/06/2014

>>> Up
*DEBENHAMS RAISED TO EQUALWEIGHT VS UNDERWEIGHT AT BARCLAYS
*RSA RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*SNAM RAISED TO BUY VS NEUTRAL AT UBS

>>> Down
*EDP CUT TO NEUTRAL VS BUY AT UBS
*ROLLS-ROYCE CUT TO SELL VS HOLD AT SOCGEN
*ROSENBAUER CUT TO HOLD VS BUY AT BERENBERG
*VESTAS CUT TO UNDERWEIGHT VS EQUALWEIGHT AT BARCLAYS

>>> PT Change


>>> Initiation

*STATOIL RATED NEW UNDERPERFORM AT JEFFERIES; PT NOK160.00
*WORLD DUTY FREE RATED NEW BUY AT DEUTSCHE BANK, PT EU12

>>> Call
>> Country
- UBS Says Buy Japan Stocks on Dips; Topix May Gain 15% by Yr-End
- Long DAX vs MSCI Europe, SX5E, JPMorgan’s Matejka Says {NSN N78U196KLVR9 <go>}
>> Sector
- European Mechanicals Ests. Raised 1%-2% at Credit Suisse on FX