>>> Brokers Upgrades & Downgrades

>>> Up
*AIXTRON RAISED TO BUY VS HOLD AT BERENBERG
*DEUTSCHE TELEKOM RAISED TO BUY VS NEUTRAL AT CITI
*E.ON RAISED TO HOLD VS SELL AT BERENBERG
*EVRAZ RAISED TO NEUTRAL VS SELL AT GOLDMAN
*NLMK RAISED TO NEUTRAL VS SELL AT GOLDMAN
*SABMILLER RAISED TO NEUTRAL VS REDUCE AT NOMURA
*VERBUND RAISED TO BUY VS SELL AT BERENBERG

>>> Down
*ASOS CUT TO NEUTRAL VS BUY AT BOFAML
*GDF SUEZ CUT TO HOLD VS BUY AT BERENBERG
*HEIDELBERGCEMENT CUT TO SELL VS NEUTRAL AT UBS
*RASPADSKAYA CUT TO SELL VS NEUTRAL AT GOLDMAN


>>> PT Changes


>>> Initiation
*KONTRON REINITIATED AT BUY AT BERENBERG; PT EU6.8
*MICHELIN RATED NEW BUY AT BERENBERG; PT EU95
*NOKIAN RENKAAT RATED NEW HOLD AT BERENBERG; PT EU26.5
*PIRELLI RATED NEW BUY AT BERENBERG; PT EU14.5
*SEVERSTAL REINSTATED BUY AT GOLDMAN

>>> Call
*ALROSA REMOVED FROM GOLDMAN CEEMEA FOCUS LIST, RATES BUY