>>> Europe : Brokers Upgrades & Downgrades - 14th of July 2016

>>> Up
*ALDERMORE RAISED TO NEUTRAL VS SELL AT CITI
*BARRICK GOLD RAISED TO BUY AT JEFFERIES
*CARREFOUR RAISED TO NEUTRAL VS UNDERPERFORM AT CREDIT SUISSE
*DICK’S SPORTING GOODS RAISED TO OUTPERFORM AT RBC CAPITAL
*EDP RENOVAVEIS RAISED TO BUY AT KEPLER CHEUVREUX
*GLAXO RAISED TO BUY AT JEFFERIES
*KINROSS GOLD RAISED TO HOLD AT JEFFERIES
*LAGARDERE RAISED TO BUY VS NEUTRAL AT GOLDMAN
*ONESAVINGS BANK RAISED TO NEUTRAL VS SELL AT CITI
*PREMIER OIL RAISED TO OUTPERFORM VS NEUTRAL AT MACQUARIE
*RANDGOLD RESOURCES RAISED TO BUY AT JEFFERIES
*RHEINMETALL RAISED TO BUY AT COMMERZBANK
*SHAWBROOK RAISED TO BUY VS SELL AT CITI
*SOUTHERN RAISED TO OVERWEIGHT AT BARCLAYS
*TITAN CEMENT RAISED TO OUTPERFORM VS NEUTRAL AT EXANE
*UK CHALLENGER BANKS RAISED TO NEUTRAL AT CITI
*UNICREDIT RAISED TO BUY VS NEUTRAL AT CITI
*VIRGIN MONEY RAISED TO NEUTRAL VS SELL AT CITI

>>> Down
*SNAM CUT TO SELL VS NEUTRAL AT CITI
*TERNA CUT TO SELL VS NEUTRAL AT CITI

>>> PT change


>>> Initiation
*CAMPARI RATED NEW HOLD AT HSBC

>>> Call
>> Stock
*ARM, ATLAS COPCO EXIT CONVICTION SELLS AT LIBERUM
*ASTRAZENECA, NOVARTIS EXIT CONVICTION BUYS AT LIBERUM
*INTU PROPERTIES, TULLOW OIL ENTER CONVICTION SELLS AT LIBERUM
*PETROFAC, SHIRE ENTER CONVICTION BUYS AT LIBERUM