>>> Europe : Brokers Upgrades & Downgrades - 13th of November 2015

>>> Up
*BANK PEKAO RAISED TO HOLD VS SELL AT SOCGEN
*DIASORIN RAISED TO BUY VS HOLD AT KEPLER CHEUVREUX
*JUNGHEINRICH RAISED TO HOLD VS REDUCE AT HSBC
*KPN RAISED TO BUY AT HSBC
*LEROY SEAFOOD GROUP RAISED TO BUY AT NORDEA
*MAIL.RU RAISED TO BUY AT SBERBANK CIB; PT $23.30

>>> Down
*ASTALDI CUT TO UNDERPERFORM VS NEUTRAL AT MEDIOBANCA
*EDP CUT TO HOLD AT HSBC
*FINCANTIERI CUT TO NEUTRAL VS BUY AT CITI
*GENUS CUT TO HOLD FROM BUY AT LIBERUM
*KUKA CUT TO EQUAL WEIGHT VS OVERWEIGHT AT BARCLAYS
*MAN GROUP CUT TO SECTOR PERFORM AT RBC CAPITAL
*SAUDI CERAMIC CUT TO NEUTRAL VS BUY AT GOLDMAN SACHS
*UBI CUT TO HOLD VS BUY AT SOCGEN
*VOESTALPINE CUT TO SELL VS NEUTRAL AT CITI

>>> PT Change


>>> Initiation
*CHORUS CLEAN ENERGY RATED NEW BUY AT BERENBERG, PT EU13.9
*COVESTRO RATED NEW BUY AT CITI; PT EU40
*COVESTRO RATED NEW BUY AT KEPLER CHEUVREUX, PT EU38
*COVESTRO RATED NEW BUY AT CITI; PT EU40
*COVESTRO ADDED TO EUROPE 1 LIST AT BOFA
*GEMALTO RATED NEW SELL AT BERENBERG, PT EU54.4
*INGENICO RATED NEW SELL AT BERENBERG, PT EU84.5
*PAYSAFE RATED NEW BUY AT BERENBERG, PT 431P
*SAFECHARGE RATED NEW BUY AT BERENBERG, PT 324P
*WORLDLINE RATED NEW SELL AT BERENBERG, PT EU19.4

>>> Call