>>> Brokers Upgrades & Downgrades - 19/08/2014

>>> Up
*BAYER RAISED TO BUY VS NEUTRAL AT UBS
*FRAPORT ADDED TO CONVICTION BUY LIST AT GOLDMAN, WAS BUY
*LEIFHEIT AG RAISED TO BUY VS HOLD AT BANKHAUS LAMPE
*QINETIQ RAISED TO NEUTRAL VS SELL AT GOLDMAN

>>> Down
*AEROPORTS DE PARIS CUT TO CONVICTION SELL VS NEUTRAL: GOLDMAN
*MEGGITT CUT TO NEUTRAL VS BUY AT GOLDMAN
*NOBEL BIOCARE CUT TO HOLD VS BUY AT BERENBERG

>>> PT Changes


>>> Initiation
*APERAM RATED HOLD AT ING, WAS RESTRICTED; PT EU26
*CARL ZEISS MEDITEC RATED NEW NEUTRAL AT GOLDMAN, PT EU28
*EFG RATED NEW NEUTRAL AT CREDIT SUISSE, PT CHF10.20
*FIAT RATED NEW UNDERPERFORM AT CREDIT SUISSE, PT EU6
*LIBERBANK RATED NEW BUY AT CITI, PT EU0.83
*OERLIKON REINSTATED OUTPERFORM AT CREDIT SUISSE, PT CHF16
*SULZER REINSTATED UNDERPERFORM AT CREDIT SUISSE, PT CHF98
*VONTOBEL RATED NEW OUTPERFORM AT CREDIT SUISSE, PT CHF37.50

>>> Call
>> Stock
*ABCAM RATED NEW BUY AT GOLDMAN, PT 545P
*FRAPORT ADDED TO CONVICTION BUY LIST AT GOLDMAN, WAS BUY
*GLOBALTRANS REMOVED FROM GOLDMAN CEEMEA FOCUS LIST, STAYS BUY
*NORTH ATLANTIC DRILLING RATED NEW NEUTRAL AT GOLDMAN, PT $10