>>> Europe : Brokers Upgrades & Downgrades - 15th of April 2016

>>> Up
*SOLVAY RAISED TO NEUTRAL AT JPMORGAN

>>> Down
*ACCOR CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*BRIGGS & STRATTON CUT TO NEUTRAL AT ROBERT BAIRD
*CLARIANT CUT TO UNDERWEIGHT AT JPMORGAN
*EFG INTERNATIONAL CUT TO SELL VS NEUTRAL AT GOLDMAN
*FAURECIA CUT TO HOLD VS BUY AT SOCGEN
*INTERCONTINENTAL CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*MIMECAST CUT TO NEUTRAL VS BUY AT GOLDMAN
*MOTHERCARE CUT TO SELL VS HOLD AT BERENBERG
*ORIFLAME CUT TO HOLD VS BUY AT DNB MARKETS
*POUNDLAND CUT TO HOLD AT HSBC
*ZUMTOBEL GROUP AG CUT TO ’NEUTRAL’ AT JPMORGAN

>>> PT Change


>>> Initiation
*KORIAN RATED NEW BUY AT SOCGEN; PT EU32
*UNITED NATURAL FOODS RATED NEW MARKET PERFORM AT WELLS FARGO

>>> Call