>>> Brokers Upgrades & Downgrades - 16th of February 2015

>>> Up
*AIRBUS RAISED TO OUTPERFORM VS UNDERPERFORM AT CREDIT SUISSE
*APERAM RAISED TO BUY VS HOLD AT ING
*FLUGHAFEN ZURICH RAISED TO BUY VS NEUTRAL AT GOLDMAN
*ILIKA RAISED TO BUY VS ADD AT NUMIS
*IMERYS RAISED TO NEUTRAL AT HSBC
*JIMMY CHOO PLC RAISED TO OVERWEIGHT AT HSBC
*KION GROUP RAISED TO BUY VS NEUTRAL AT GOLDMAN
*MELROSE RAISED TO CONVICTION BUY VS NEUTRAL AT GOLDMAN
*PGS RAISED TO OVERWEIGHT VS UNDERWEIGHT AT MORGAN STANLEY
*RENISHAW RAISED TO ADD VS HOLD AT NUMIS
*SUBSEA 7 RAISED TO OVERWEIGHT VS UNDERWEIGHT AT MORGAN STANLEY
*TECHNIP RAISED TO OVERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY

>>> Down
*AALBERTS CUT TO NEUTRAL VS CONVICTION BUY AT GOLDMAN
*ATLAS COPCO CUT TO NEUTRAL VS BUY AT GOLDMAN
*AURUBIS CUT TO NEUTRAL VS BUY AT BOFAML
*EDENRED CUT TO UNDERPERFORM AT RAYMOND JAMES
*EUROTUNNEL CUT TO NEUTRAL VS BUY AT GOLDMAN
*FRESNILLO CUT TO EQUALWEIGHT VS OVERWEIGHT AT MORGAN STANLEY
*INTERTEK CUT TO HOLD VS BUY AT JEFFERIES
*NORMA GROUP CUT TO NEUTRAL VS BUY AT GOLDMAN
*PACE CUT TO REDUCE VS HOLD AT NUMIS
*PETROFAC CUT TO UNDERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY
*TELECITY CUT TO NEUTRAL VS BUY AT CITI
*TOTAL CUT TO NEUTRAL VS OUTPERFORM AT CREDIT SUISSE
*WARTSILA CUT TO SELL VS NEUTRAL AT GOLDMAN
*888 TERMINATION OF TALKS W/ WILLIAM HILL
>>> PT Change


>>> Initiation
*KUKA REINSTATED NEUTRAL AT GOLDMAN

>>> Call
>> Stock
* Melrose Added to Conviction Buy List at Goldman on M&A Strategy