>>> Brokers Upgrades & Downgrades - 17/04/2014

>>> Up
*AKZO NOBEL RAISED TO NEUTRAL VS REDUCE AT NOMURA
*ASOS RAISED TO EQUALWEIGHT VS UNDERWEIGHT AT MORGAN STANLEY
*BANKIA RAISED TO BUY VS NEUTRAL AT CITI
*CAIXABANK RAISED TO BUY VS NEUTRAL AT CITI
*CHR HANSEN RAISED TO CONVICTION BUY VS NEUTRAL AT GOLDMAN
*EVRAZ RAISED TO NEUTRAL FROM UNDERWEIGHT AT JPMORGAN
*HELLENIC PETROLEUM RAISED TO BUY VS HOLD AT SOCGEN
*HELLENIC TELECOMMUNICATIONS RAISED FROM UNDERPERFORM AT BOFAML
*NBG RAISED TO NEUTRAL VS UNDERWEIGHT AT JPMORGAN
*RESOLUTION RAISED TO HOLD VS SELL AT BERENBERG
*WEG RAISED TO NEUTRAL FROM UNDERWEIGHT AT JPMORGAN

>>> Down
*ARABTEC CUT TO NEUTRAL VS BUY AT BOFAML
*ARKEMA CUT TO NEUTRAL VS BUY AT NOMURA
*BARLOWORLD CUT TO NEUTRAL VS BUY AT BOFAML
*CREDIT SUISSE CUT TO HOLD VS BUY AT KEPLER CHEUVREUX
*GJENSIDIGE CUT TO UDNERWEIGHT VS NEUTRAL AT JPMORGAN
*IMPERIAL TOBACCO CUT FROM CONVICTION LIST AT GOLDMAN, STILL BUY
*KUEHNE & NAGEL CUT TO UNDERWEIGHT AT JPMORGAN
*SEADRILL CUT TO NEUTRAL VS BUY AT BOFAML
*SUEDZUCKER CUT TO SELL VS HOLD AT BERENBERG
*WILLIAM HILL CUT TO HOLD AT JEFFERIES

>>> PT Change


>>> Initiation
*GRAND CITY PROPERTIES RATED NEW BUY AT COMMERZBANK, PT EU10
*GTT RATED NEW OVERWEIGHT AT MORGAN STANLEY; PT EU53

>>> Call
>> Stock
*ALPHA ADDED TO CEEMEA ANALYST FOCUS LIST AT JPMORGAN
*CHR HANSEN RAISED TO CONVICTION BUY VS NEUTRAL AT GOLDMAN
*IMPERIAL TOBACCO CUT FROM CONVICTION LIST AT GOLDMAN, STILL BUY