>>> Brokers Upgrades & Downgrades - 1st of April 2015

>>> Up
*CAIRN ENERGY RAISED TO BUY VS NEUTRAL AT UBS
*LLOYDS RAISED TO HOLD AT JEFFERIES
*PROVIDENT FINANCIAL RAISED TO OVERWEIGHT AT JPMORGAN

>>> Down
*WILLIAM DEMANT CUT TO SELL VS NEUTRAL AT UBS

>>> PT change


>>> Initiation
*BUCHER RATED NEW BUY AT BERENBERG, PT CHF286
*PATISSERIE HOLDINGS RATED NEW BUY AT CANTOR FITZGERALD, PT 350P

>>> Call
>> Stock
*PHILIPS ADDED TO CONVICTION BUY LIST AT GOLDMAN