>>> Europe : Brokers Upgrades & Downgrades - 15th of September 2

>>> Up
*BP RAISED TO BUY VS HOLD AT LIBERUM
*BG RAISED TO BUY VS HOLD AT LIBERUM
*CLOSE BROTHERS CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*GAS NATURAL RAISED FROM UNDERWEIGHT AT MORGAN STANLEY
*IBERDROLA RAISED TO MARKET PERFORM AT BERNSTEIN
*KUKA RAISED TO BUY VS HOLD AT BERENBERG
*KUONI REISEN HOLDING RAISED TO NEUTRAL VS SELL AT CITI
*NESTLE RAISED TO BUY VS REDUCE AT NOMURA

>>> Down
*COMMERZBANK CUT TO SELL VS NEUTRAL AT GOLDMAN
*EDF CUT TO UNDERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY
*SWISSCOM CUT TO UNDERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*UBS CUT TO NEUTRAL VS BUY AT GOLDMAN

>>> PT Change


>>> Initiation
*ALDERMORE RATED NEW EQUALWEIGHT AT BARCLAYS, PT 310P
*BANCO POPULAR RATED NEW SELL AT BERENBERG
*BANKIA RATED NEW HOLD AT BERENBERG
*BANKINTER RATED NEW HOLD AT BERENBERG
*CAIXABANK RATED NEW SELL AT BERENBERG; PT EU3.1
*DUERR RESUMED AT HOLD AT BERENBERG; PT RAISED TO EU77 VS EU71
*FORTE OIL PLC RATED NEW SELL AT RENAISSANCE CAPITAL
*P2P GLOBAL INVESTMENTS RATED NEW OVERWEIGHT AT JPMORGAN
*SABADELL RATED NEW SELL AT BERENBERG
*SHAWBROOK RATED NEW OVERWEIGHT AT BARCLAYS, PT 410P
*TENARIS RATED NEW BUY AT KEPLER CHEUVREUX; PT EU13
*VALLOUREC RATED NEW HOLD AT KEPLER CHEUVREUX; PT EU9

>>> Call
>> Stock
*CREDIT SUISSE ADDED TO GOLDMAN CONVICTION BUY LIST
*ELIOR ADDED TO JPMORGAN ANALYST FOCUS LIST
*MANZ REPLACES CANCOM IN BANKHAUS LAMPE SMALL-CAP ALPHA LIST
*NESTLE ADDED TO ANALYST FOCUS LIST AT JPMORGAN
*TUI AG UK REMOVED FROM JPMORGAN ANALYST FOCUS LIST