>>> Europe : Brokers Upgrades & Downgrades - 11th of November 2015

>>> Up
*ANDRITZ RAISED TO BUY VS HOLD AT KEPLER CHEUVREUX
*CEZ RAISED TO HOLD VS SELL AT INVESTEC
*L’OREAL RAISED TO EQUALWEIGHT AT MORGAN STANLEY
*MAUNA KEA TECHNOLOGIES RAISED TO HOLD AT SOCIETE GENERALE
*POP. MILANO RAISED TO HOLD VS REDUCE AT KEPLER CHEUVREUX
*JUPITER RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS

>>> Down
*AFRICA OIL CORP CUT TO NEUTRAL VS BUY AT CITI
*AUTO TRADER CUT TO NEUTRAL VS BUY AT GOLDMAN
*HOWDEN JOINERY CUT TO ADD VS BUY AT PEEL HUNT
*JIMMY CHOO CUT TO HOLD VS BUY AT LIBERUM
*LANXESS CUT TO UNDERPERFORM VS NEUTRAL AT CREDIT SUISSE
*LEONI CUT TO NEUTRAL VS OUTPERFORM AT MACQUARIE
*MEDIASET CUT TO HOLD AT HSBC
*MEDIASET CUT TO NEUTRAL VS BUY AT GOLDMAN
*OSRAM LICHT CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*OSRAM LICHT CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*SCHRODERS CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*SIG PLC CUT TO HOLD VS BUY AT PEEL HUNT
*SNAM CUT TO HOLD VS BUY AT BERENBERG
*VESTAS WIND CUT TO HOLD VS BUY AT HSBC
*VIVENDI CUT TO HOLD VS BUY AT LIBERUM
*VOSSLOH CUT TO HOLD AT HSBC
*WHITBREAD CUT TO UNDERPERFORM AT JEFFERIES

>>> PT Change


>>> Initiation
*GETINGE RATED NEW REDUCE AT HSBC, PT SEK192
*MUTARES RATED NEW BUY AT BAADER-HELVEA; PT EU24.3

>>> Call