>>> Europe : Brokers Upgrade & Downgrade - 1st of February 2016

>>> Up
*AP MOELLER-MAERSK RAISED TO BUY VS REDUCE AT NOMURA
*CAIXABANK RAISED TO HOLD VS SELL AT SOCGEN
*DERWENT LONDON RAISED TO BUY VS NEUTRAL AT UBS
*ENERGIAS DE PORTUGAL RAISED TO NEUTRAL VS SELL AT CITI
*GETINGE RAISED TO HOLD AT HSBC
*INDITEX RAISED TO OUTPERFORM AT RBC CAPITAL
*INFINEON RAISED TO BUY VS NEUTRAL AT UBS
*INVESTOR RAISED TO BUY VS HOLD AT KEPLER CHEUVREUX
*MICRON TECHNOLOGY RAISED TO NEUTRAL AT GOLDMAN
*PREMIER OIL RAISED TO BUY VS NEUTRAL AT NOMURA
*SIEMENS RAISED TO BUY VS NEUTRAL AT NOMURA
*SKY RAISED TO ADD VS REDUCE AT ALPHAVALUE
*ZEALAND PHARMA A/S RAISED TO HOLD AT NORDEA

>>> Down
*ANTOFAGASTA CUT TO ADD VS BUY AT ALPHAVALUE
*ATLAS COPCO CUT TO SELL VS HOLD AT SOCGEN
*BNP PARIBAS CUT TO ADD VS BUY AT ALPHAVALUE
*DEUTSCHE EUROSHOP CUT TO SELL VS NEUTRAL AT UBS
*EUROCOMMERCIAL CUT TO SELL VS NEUTRAL AT UBS
*FORTUM CUT TO UNDERWEIGHT AT JPMORGAN
*KSB CUT TO HOLD VS BUY AT KEPLER CHEUVREUX
*NATIXIS CUT TO ADD VS BUY AT ALPHAVALUE

>>> PT Change


>>> INitiation
*ABN AMRO RATED NEW OUTPERFORM AT RBC, PT EU25
*DOMINO'S PIZZA RATED NEW NEUTRAL AT UBS; PT 975P
*JUST EAT RATED NEW SELL AT UBS; PT 330P
*SOCIETE BIC RATED NEW UNDERPERFORM AT BOFA; PT EU130

>>> Call
>> Sector
*EQUITIES WEIGHTING CUT FURTHER AT JPMORGAN, IS AT NEUTRAL
*INDUSTRIALS CUT TO UNDERWEIGHT BY JPMORGAN'S MISLAV MATEJKA
>> Stock
*DEUTSCHE BOERSE, TESCO ADDED TO HSBC EUROPE SUPER 10 PORTFOLIO
*BARCLAYS, METRO EXIT HSBC EUROPE SUPER 10 PORTFOLIO