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

>>> Up
*ADP RAISED TO BUY VS NEUTRAL AT CITI

>>> Down
*AB FOODS CUT TO HOLD VS BUY AT SOCGEN, PT 3,300P
*EDP RENOVAVEIS CUT TO NEUTRAL VS BUY AT CITI
*HAMBURGER HAFEN CUT TO NEUTRAL VS BUY AT CITI
*HOCHSCHILD MINING CUT TO REDUCE VS BUY AT HSBC
*ICAP CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS

>>> PT Change


>>> Initiate
*CHRISTIAN DIOR RATED NEW HOLD AT SOCIETE GENERALE, PT EU182
*DIAGEO RATED NEW HOLD AT HSBC, PT 1,830P
*EASYHOTEL RATED NEW BUY AT LIBERUM
*EUTELSAT RATED NEW OUTPERFORM AT WELLS FARGO
*FRAPORT RATED NEW BUY AT SANTANDER
*PERNOD RICARD RATED NEW BUY AT HSBC, PT EU108
*REMY COINTREAU RATED NEW HOLD AT HSBC, PT EU63

>>> Call