>>> Europe : Brokers Upgrades & DOwngrades - 19th of August 2015

>>> Up
*EMMI RAISED TO BUY VS REDUCE AT KEPLER CHEUVREUX
*EVS RAISED TO HOLD FROM SELL AT ING
*FORBO RAISED TO BUY VS HOLD AT KEPLER CHEUVREUX
*SIGNET RAISED TO OUTPERFORM VS NEUTRAL AT EXANE

>>> Down
*HANNOVER RE CUT TO UNDERWEIGHT VS EQUALWEIGHT: MORGAN STANLEY

>>> PT Change


>>> Initiation
*DRILLISCH RATED NEW BUY AT JEFFERIES; PT EU51
*FREENET RATED NEW HOLD AT JEFFERIES; PT EU31
*MICRO FOCUS RATED NEW HOLD AT LIBERUM, PT 1,300P
*UNITED INTERNET RATED NEW BUY AT JEFFERIES; PT EU57

>>> Call