>>> Europe : Brokers Upgrades & Downgrades - 18th of October 201

>>> Up
* ADO Properties Upgraded to Buy at ING; Price Target 60 Euros
* Archer Upgraded to Buy at DNB Markets; PT 9 Kroner
* BAT Upgraded to Buy at DZ Bank; PT 28 Pounds
* Carrefour Upgraded to Buy at HSBC; PT 18.50 Euros
* Moncler Upgraded to Buy at Jefferies; Price Target 40 Euros
* OneSavings Bank Raised to Outperform at Macquarie
* Prosegur Cash Upgraded to Outperform at BBVA; PT 2 Euros
* Swatch Upgraded to Hold at SocGen; PT 356 Francs

>>> Down
* Fresenius SE Cut to Hold at Independent Research; PT 66 Euros
* Fresenius Medical Downgraded to Hold at DZ Bank; PT 72 Euros
* Mediclinic Cut to Equal-weight at Morgan Stanley; PT 4.50 Pounds
* Nordic Semiconductor Cut to Neutral at SpareBank; PT 40 Kroner
* Norwegian Air Downgraded to Reduce at HSBC; PT 125 Kroner
* SKF Downgraded to Sell at Berenberg

>>> Initation
* ASA International Group Rated New Buy at EFG-Hermes
* Banca Sistema Rated New Buy at Kepler Cheuvreux; PT 2.70 Euros
* MailUp Rated New Buy at UBI Banca; PT 3.63 Euros
* Team17 Group Rated New Buy at Peel Hunt; PT 2.95 Pounds
* Wirecard Rated New Buy at Guggenheim; PT 218 Euros
* Weatherford Reinstated at BofAML With Underperform; PT $2

>>> Call