>>> Europe : Brokers Upggrades & Downgrades - 4th of December 2016

>>> Up
*ASOS RAISED TO BUY VS HOLD AT DEUTSCHE BANK
*DNO RAISED TO OUTPERFORM VS NEUTRAL AT MACQUARIE
*GENEL RAISED TO OUTPERFORM VS NEUTRAL AT MACQUARIE
*TELE2 RAISED TO HOLD VS SELL AT BERENBERG
*TURK TELEKOM RAISED TO BUY VS HOLD AT RENAISSANCE

>>> Down
*FREENET CUT TO SELL VS HOLD AT BERENBERG
*H&M CUT TO SELL VS HOLD AT DEUTSCHE BANK
*OLD MUTUAL CUT TO ADD VS BUY AT ALPHAVALUE
*TELIASONERA CUT TO SELL VS HOLD AT BERENBERG
*UNITED INTERNET CUT TO HOLD VS BUY AT BERENBERG

>>> PT Change
*JULIUS BAER PT DOWNGRADE FROM CHF60 TO CHF59 AT GOLDMAN

>>> Initiation
*ABN AMRO GROUP NV RATED NEW NEUTRAL AT JPMORGAN
*ABN AMRO RATED NEW BUY AT CITI, PT EU26
*ABN AMRO RATED NEW OVERWEIGHT AT MORGAN STANLEY; PT EU23.72
*AMUNDI RATED NEW OVERWEIGHT AT MORGAN STANLEY; PT EU50
*FCA PT REINSTATED AT EU10.90 AT MEDIOBANCA; KEPT AT OUTPERFORM
*FERRARI PT IN EURO TERMS REINSTATED AT EU56 AT MEDIOBANCA

>>> Call