>>> Europe : Brokers Upgrades & Downgrades - 16th of June 2015

>>> Up
*LADBROKES RAISED TO OVERWEIGHT VS EQUALWEIGHT: MORGAN STANLEY
*NATIONAL GRID RAISED TO OVERWEIGHT AT MORGAN STANLEY
*REN RAISED TO EQUALWEIGHT VS UNDERWEIGHT AT MORGAN STANLEY

>>> Down
*CREST NICHOLSON CUT TO NEUTRAL VS BUY AT GOLDMAN
*DRAGON OIL CUT TO NEUTRAL VS BUY AT GOLDMAN
*FOXTONS CUT TO SELL VS NEUTRAL AT GOLDMAN
*KERING CUT TO UNDERPERFORM VS NEUTRAL AT CREDIT SUISSE
*LEROY SEAFOOD GROUP CUT TO SELL FROM HOLD AT NORDEA
*ONTEX GROUP CUT TO NEUTRAL VS BUY AT GOLDMAN

>>> PT Change


>>> Initiation
*ADIDAS RATED NEW OUTPERFORM AT RBC, PT EU85
*BAT REINSTATED OUTPERFORM AT CREDIT SUISSE, PT 3,800P
*CELLNEX TELECOM RATED NEW NEUTRAL AT CITI, PT EU17
*CELLNEX TELECOM RATED NEW OVERWEIGHT AT MORGAN STANLEY, PT EU18
*CELLNEX TELECOM RATED NEW NEUTRAL AT GOLDMAN, PT EU16
*DRILLISCH RATED NEW OVERWEIGHT AT BARCLAYS, PT EU60
*EDP RENOVAVEIS RATED NEW HOLD AT HSBC, PT EU7.30
*ENEL GREEN POWER RATED NEW BUY AT HSBC, PT EU2.10
*EVOTEC RATED NEW BUY AT BANKHAUS LAMPE, PT EU5
*IMPERIAL TOBACCO REINSTATED OUTPERFORM AT CREDIT SUISSE
*LOOMIS RATED NEW BUY AT GOLDMAN
*PROSEGUR RATED NEW BUY AT GOLDMAN
*TALGO RATED NEW OVERWEIGHT AT JPMORGAN, PT EU9.75
*TALGO RATED NEW BUY AT NOMURA; PT EU10.4
*TELIT COMMUNICATIONS RATED NEW BUY AT BERENBERG, PT 410P
*WINDELN.DE AG RATED NEW BUY AT GOLDMAN, PT EU19

>>> Call