>>> Brokers Upgrades & Downgrades - 31st of March 2015

>>> Up
*RAIFFEISEN RAISED TO OVERWEIGHT AT JPMORGAN

>>> Down
*BMW CUT TO EQUAL-WEIGHT FROM OVERWEIGHT AT MORGAN STANLEY
*BURBERRY CUT TO SECTOR PERFORM AT RBC CAPITAL
*UCB CUT TO HOLD VS BUY AT BERENBERG
*VOSSLOH CUT TO HOLD VS BUY AT BERENBERG

>>> PT Change


>>> Initiation
*ELIS RATED NEW BUY AT SOCGEN, PT EU19.8
*MARSTON’S RATED NEW HOLD AT GOODBODY, PT 155P

>>> Call