>>> Europe : Brokers Upgrade & Downgrade - 25th of July 2016

>>> Up
*ACCIONA RAISED TO BUY VS NEUTRAL AT CITI
*ENEL RUSSIA RAISED TO HOLD AT RENAISSANCE CAPITAL
*G4S RAISED TO SECTOR PERFORM AT RBC CAPITAL
*KONECRANES RAISED TO BUY AT NORDEA
*VERBUND RAISED TO BUY VS HOLD AT SOCGEN

>>> Down
*AIR FRANCE-KLM CUT TO SELL VS HOLD AT SOCGEN
*ELRINGKLINGER CUT TO REDUCE VS ADD AT ALPHAVALUE
*G4S CUT TO UNDERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*LUFTHANSA CUT TO NEUTRAL VS BUY AT UBS
*LUNDBECK CUT TO HOLD VS BUY AT DNB
*PGS CUT TO REDUCE VS ADD AT ALPHAVALUE

>>> PT Change


>>> Initiaition
*BASIC-FIT RATED NEW BUY AT ING; PT AT EU20.50
*RPC GROUP RATED NEW OUTPERFORM AT CREDIT SUISSE, PT 1025P
*SYROS PHARMACEUTICALS RATED NEW MARKET OUTPERFORM AT JMP SECS
*VAN LANSCHOT RATED NEW BUY AT UBS, PT EU21.7
*VAN LANSCHOT RATED NEW NEUTRAL AT GOLDMAN, PT EU20

>>> Call