>>> Brokers Upgrades & Downgrades - 2nd of October 2014

>>> Up
*ABERDEEN ASSET MGMT RAISED TO HOLD VS UNDERPERFORM AT JEFFERIES
*DIALOG SEMI RAISED TO BUY VS HOLD AT BANKHAUS LAMPE (EARLIER)
*HARGREAVES LANSDOWN RAISED TO BUY VS ADD AT NUMIS
*HENDERSON RAISED TO HOLD VS REDUCE AT NUMIS
*IMA RAISED TO BUY VS HOLD AT EQUITA (YDAY)
*LVMH RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*POLAR CAPITAL RAISED TO ADD VS HOLD AT NUMIS; PT GBP490
*RICHEMONT RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*SWISS LIFE RAISED TO EQUALWEIGHT AT MORGAN STANLEY
*TF1 RAISED TO BUY VS NEUTRAL AT UBS
*TRUWORTHS RAISED TO BUY AT RENAISSANCE CAPITAL; PT ZAR80

>>> Down
*DIRECT LINE CUT TO EQUALWEIGHT VS OVERWEIGHT AT MORGAN STANLEY
*ORANGE POLSKA CUT TO HOLD VS BUY AT ING
*SAINSBURY CUT TO UNDERPERFORM AT MACQUARIE
*SGS CUT TO UNDERPERFORM VS NEUTRAL AT CREDIT SUISSE
*TCS GROUP HOLDING CUT TO SELL VS HOLD AT DEUTSCHE; PT $4
*VOZROZHDENIE BANK CUT TO HOLD VS BUY AT DEUTSCHE; PT RUB 420

>>> PT Change


>>> Initiation
*DECHRA PHARMA RATED NEW BUY AT JEFFERIES, PT 871P
*HALMA RATED NEW HOLD AT LIBERUM, PT 600P
*HUGO BOSS RATED NEW BUY AT JEFFERIES, PT EU11
*IPSEN RATED NEW OVERWEIGHT AT MORGAN STANLEY
*NOVO NORDISK RATED NEW EQUALWEIGHT AT MORGAN STANLEY, PT DK301
*RTL GROUP RATED NEW BUY AT UBS, PT EU84.70
*VOSSLOH RATED BUY AT BERENBERG; WAS UNDER REVIEW

>>> Call
>> Stock
*ADP REMOVED FROM GOLDMAN CONVICTION SELL LIST, STAYS SELL
*FRAPORT REMOVED FROM GOLDMAN CONVICTION BUY LIST, STAYS BUY