>>> Europe : Brokers Upgrades & Downgrades - 14th of July 2017

>>> Up
*Aberdeen Raised to Buy at HSBC, PT GBP3.50
*ArcelorMittal Raised to Buy at ING
*B&M European Raised to Buy at Goldman, PT 400p
*Boeing Raised to Overweight at JPMorgan, PT $240
*Derwent London Raised to Outperform at Exane, PT 3,100p
*Evonik Raised to Neutral at Goldman, PT EU28
*Fincantieri Raised to Neutral at MedioBanca, PT EU1.13
*Standard Life Raised to Buy at HSBC, PT GBP4.60
*Vidrala Raised to Hold at Kepler Cheuvreux, PT EU64.70

>>> Down
*BHP Cut to Hold at HSBC, PT GBP13.20
*Boliden Cut to Underweight at Morgan Stanley, PT SEK222
*DNA Cut to Hold at Danske Bank, PT EU15.30
*Euskatel Cut to Hold at Ahorro Corporacion, PT EU11.54
*Norwegian Air Cut to Sell at DNB Markets, PT NOK170
*Salzgitter Cut to Neutral at Citi
*Stentys Cut to Hold at SocGen, PT EU2.50

>>> Initiation
*Allianz New Underperform at Macquarie, PT EU153
*Euskatel New Underweight at Barclays
*Helvetia New Market Perform at KBW, PT CHF585
*Provident New Hold at Berenberg
*Wolseley New Positive at Susquehanna, PT 5,960p

>>> Call