>>> Brokers Upgrades & Downgrades - 7th of October 2014

>>> Up
*AIR FRANCE RAISED TO OVERWEIGHT VS UNDERWEIGHT AT JPMORGAN
*ANTOFAGASTA RAISED TO HOLD VS SELL AT SOCGEN
*ENDESA RAISED TO OVERWEIGHT VS UNDERWEIGHT AT JPMORGAN
*HEIDELBERGCEMENT RAISED TO BUY AT JEFFERIES
*SMA SOLAR TECHNOLOGY RAISED TO BUY VS NEUTRAL AT CITI
*SMITH & NEPHEW RAISED TO HOLD VS SELL AT SOCGEN

>>> Down
*BAE SYSTEMS CUT TO HOLD VS BUY AT CANTOR
*COMMERZBANK CUT TO SELL FROM HOLD AT BANKHAUSE LAMPE
*ENEL GREEN POWER CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*RYANAIR CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*SANTANDER CUT TO REDUCE VS NEUTRAL AT NOMURA
*SCHRODERS CUT TO UNDERPERFORM VS BUY AT BOFAML
*SUEDZUCKER RAISED TO HOLD VS SELL AT DZ

>>> PT Changes


>>> Initiation
*ACS RATED NEW EQUALWEIGHT AT MORGAN STANLEY
*DATALOGIC RATED NEW BUY AT BERENBERG
*FERROVIAL RATED NEW OVERWEIGHT AT MORGAN STANLEY
*VINCI RATED NEW OVERWEIGHT AT MORGAN STANLEY

>>> Call
>> Sector
*EUROPEAN INDUSTRIALS RAISED TO OVERWEIGHT AT MORGAN STANLEY
*EUROPEAN HEALTHCARE CUT TO UNDERWEIGHT AT MORGAN STANLEY
>> Stock
*LUKOIL ADDED TO UBS MOST PREFERRED LIST
*ROSNEFT ADDED TO UBS LEAST PREFERRED LIST
*TRAVIS PERKINS ADDED TO EUROPE 1 LIST AT BOFAML