>>> Europe : Brokers Upgrades & Downgrades - 12th of May 2015

>>> Up
*KONINKLIJKE AHOLD RAISED TO NEUTRAL AT MACQUARIE
*AHOLD RAISED TO HOLD, DELHAIZE RAISED TO BUY AT JEFFERIES
*GREENE KING RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*INCHCAPE RAISED TO BUY VS NEUTRAL AT UBS
*SYNGENTA RAISED TO MARKET PERFORM VS UNDERPERFORM AT BERNSTEIN
*THOMAS COOK RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*YOUNG & CO.'S BREWERY RAISED TO OVERWEIGHT VS NEUTRAL: JPMORGAN

>>> Down
*EUROCASH CUT TO NEUTRAL AT JPMORGAN
*HELLENIC PETROLEUM CUT TO HOLD VS BUY AT SOCGEN
*STANDARD CHARTERED CUT TO UNDERPERFORM AT MACQUARIE, PT HK$100

>>> PT change


>>> Initiation
*DASSAULT AVIATION RATED NEW BUY AT DEUTSCHE BANK
*SHAWBROOK GROUP RATED NEW BUY AT GOLDMAN, PT 380P

>>> Call