>>> Brokers Upgrades & Downgrades - 23/04/2014

>>> Up
*HELLENIC PETROLEUM RAISED TO NEUTRAL VS UNDERPERFORM AT BOFAML
*MMK RAISED TO NEUTRAL VS UNDERPERFORM AT BOFAML
*MOL RAISED TO NEUTRAL VS UNDERPERFORM AT BOFAML
*PASCHI RAISED TO NEUTRAL VS SELL AT GOLDMAN
*PGNIG RAISED TO BUY VS NEUTRAL AT GOLDMAN
*PKN ORLEN RAISED TO BUY VS UNDERPERFORM AT BOFAML
*THOMAS COOK RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*WOLSELEY RAISED TO OUTPERFORM FROM NEUTRAL AT CREDIT SUISSE

>>> Down
*ARABIAN CEMENT COMPANY CUT TO UNDERPERFORM VS NEUTRAL AT BOFAML
*FRED. OLSEN CUT TO SELL FROM HOLD AT NORDEA
*PHILIPS CUT TO SECTOR PERFORM AT RBC CAPITAL
*TELIASONERA CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*TGS NOPEC CUT TO SELL AT NORDEA

>>> PT Changes


>>> Initiation
*ISS A/S RATED NEW NEUTRAL AT UBS, PT DKR195
*ISS RATED NEW OVERWEIGHT AT BARCLAYS, PT DKR215
*PREMIER FOODS RESUMED AT BUY AT JEFFERIES

>>> Call
>> Stock
*WOLSELEY ADDED TO CREDIT SUISSE'S EUROPE FOCUS LIST