>>> Brokers Upgrades & Downgrades - 18th of March 2015

>>> Up
*HEIDELBERGER DRUCK RAISED TO BUY AT BAADER-HELVEA
*ITALCEMENTI RAISED TO OUTPERFORM VS NEUTRAL AT MEDIOBANCA
*OTP BANK PLC RAISED TO OVERWEIGHT AT JPMORGAN
*UPM RAISED TO BUY VS HOLD AT JEFFERIES
*XCHANGING RAISED TO BUY AT CITI

>>> Down
*APR ENERGY CUT TO SELL AT CITI
*BIOMERIEUX CUT TO UNDERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY
*FIAT CHRYSLER CUT TO NEUTRAL VS BUY AT UBS

>>> PT Change


>>> Initiation
*ELTEL RATED NEW OVERWEIGHT AT MORGAN STANLEY, PT SEK95
*GREGGS RATED NEW SELL AT BERENBERG, PT 820P
*INCHCAPE RATED NEW BUY AT BERENBERG, PT 915P
*PETS AT HOME RATED NEW BUY AT BERENBERG, PT 290P
*PERNOD-RICARD NEW OUTPEERFORM AT EXANE E65 PT
*REMY COINTREAU NEW NEUTRAL AT EXANE E119 PT
*SUNRISE COMMUNICATIONS RATED NEW BUY AT BERENBERG, PT CHF100


>>> Call
>> Stock
*DRAGON OIL EXITS GOLDMAN CONVICTION BUY LIST, STAYS BUY
>> Sector
*EU AUTOS CUT TO NEUTRAL FROM OVERWEIGHT AT EXANE