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

>>> Up
*GLENCORE RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*PEARSON RAISED TO NEUTRAL VS REDUCE AT NOMURA
*RENTOKIL INITIAL RAISED TO BUY AT JEFFERIES
*RSA INSURANCE RAISED TO NEUTRAL VS SELL AT UBS

>> Down
*AEGON CUT TO HOLD VS BUY AT ING
*CAIXABANK CUT TO NEUTRAL AT JPMORGAN
*HENDERSON CUT TO REDUCE VS HOLD AT NUMIS
*HUFVUDSTADEN CUT TO NEUTRAL VS BUY AT UBS
*VIVENDI CUT TO NEUTRAL VS BUY AT NOMURA

>>> PT Change


>>> Initiation
*BTG RATED NEW SELL AT STIFEL, PT 540P
*CIRCASSIA PHARMACEUTICALS RATED NEW BUY AT STIFEL, PT 320P
*CONSORT MEDICAL RATED NEW BUY AT STIFEL, PT 1,075P
*CLINIGEN GROUP RATED NEW BUY AT STIFEL, PT 650P
*DECHRA PHARMACEUTICALS RATED NEW BUY AT STIFEL, PT 1,010P
*ERGOMED RATED NEW BUY AT STIFEL, PT 281P
*HIKMA PHARMACEUTICALS RATED NEW HOLD AT STIFEL
*INDIVIOR RATED NEW BUY AT STIFEL, PT 280P
*SINCLAIR IS PHARMA RATED NEW BUY AT STIFEL, PT 40P
*NANOBIOTIX RATED NEW BUY AT STIFEL, PT EU25.5
*NICOX SA RATED NEW BUY AT STIFEL, PT EU3.19
*REX BIONICS RATED NEW BUY AT STIFEL, PT 150P
*SKYEPHARMA RATED NEW BUY AT STIFEL, PT 460P
*SSP RATED NEW BUY AT CITI, PT 350P
*VECTURA RATED NEW BUY AT STIFEL, PT 207P
*VERNALIS RATED NEW BUY AT STIFEL, PT 63P
*ZELTIA RATED NEW BUY AT STIFEL, PT EU4.42

>>> Call