>>> Brokers Upgrades & Downgrades - 19th of January 2015

>>> Up
*AGGREKO RAISED TO OUTPERFORM VS SECTORPERFORM AT RBC
*BHP BILLITON RAISED TO OVERWEIGHT VS NEUTRAL AT HSBC
*EDENRED RAISED TO BUY VS NEUTRAL AT CITI
*GULF MARINE SERVICES RAISED TO OVERWEIGHT VS NEUTRAL: JPMORGAN
*HEINEKEN RAISED TO BUY VS HOLD AT SANTANDER, PT EU70 VS EU60
*HELVETIA RAISED TO BUY AT GOLDMAN
*JERONIMO MARTINS RAISED TO OUTPERFORM VS NEUTRAL AT EXANE
*TESCO RAISED TO OVERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY
*TRAVIS PERKINS RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*VEDANTA RAISED TO NEUTRAL VS UNDERWEIGHT AT HSBC

>>> Down
*CAPE CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*CGG CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*DSM CUT TO HOLD VS BUY AT ING
*EFG INTERNATIONAL CUT TO NEUTRAL VS BUY AT UBS
*HANNOVER RE CUT TO SELL AT GOLDMAN
*JULIUS BAER CUT TO NEUTRAL VS BUY AT UBS
*KESKO CUT TO HOLD AT NORDEA
*MOBISTAR CUT TO SECTOR PERFORM VS OUTPERFORM AT RBC
*SAMPO CUT TO SELL AT GOLDMAN
*SOCO CUT TO HOLD VS BUY AT JEFFERIES
*SWATCH (BEARER) CUT TO NEUTRAL VS BUY AT GOLDMAN
*SWISS LIFE CUT TO SELL AT GOLDMAN
*SWISS RE CUT TO HOLD VS BUY AT DEUTSCHE BANK
*TECNICAS REUNIDAS CUT TO UNDERWEIGHT VS OVERWEIGHT: JPMORGAN


>>> PT Changes


>>> Initiation
*SOLVAY REINSTATED NEUTRAL AT CREDIT SUISSE, PT EU115

>>> Call
>> Stock
*SCOR ADDED TO CONVICTION BUY LIST AT GOLDMAN
*TESCO ADDED TO EUROPE BEST IDEAS LIST AT MORGAN STANLEY