>>> Europe : Brokers Upgrades & Downgrades -19th of June 2015

>>> Up
*ASHTEAD RAISED TO OUTPERFORM VS NEUTRAL AT EXANE
*DEUTSCHE BANK RAISED TO NEUTRAL VS UNDERPERFORM AT EXANE
*HIKMA PHARMACEUTICALS RAISED TO BUY VS NEUTRAL AT CITI
*KLOECKNER RAISED TO BUY VS NEUTRAL AT GOLDMAN
*NORDEA RAISED TO OUTPERFORM VS SECTOR PERFORM AT RBC
*POUNDLAND RAISED TO EQUALWEIGHT FROM UNDERWEIGHT AT M. STANLEY
*THYSSENKRUPP RAISED TO BUY VS NEUTRAL AT CITI

>>> Dowm
*AUTOGRILL CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*BURCKHARDT COMPRESSION CUT TO SELL FROM HOLD AT BAADER-HELVEA
*KINGFISHER CUT TO UNDERWEIGHT VS EQUAL-WEIGHT AT MORGAN STANLEY
*PZ CUSSONS CUT TO NEUTRAL VS BUY AT GOLDMAN
*SCHNEIDER ELECTRIC CUT TO MARKET PERFORM AT RAYMOND JAMES
*VOESTALPINE CUT TO SELL VS NEUTRAL AT GOLDMAN

>>> PT Change


>>> Initiation
*ELIOR RATED NEW BUY AT BERENBERG, PT EU22
*FINECOBANK REINITIATED BUY AT KEPLER CHEUVREUX, PT EU8
*TELEFONICA REINSTATED BUY AT GOLDMAN, PT EU15.10
*WINDELN.DE RATED NEW BUY AT BERENBERG, PT EU16

>>> Call
>> Stock
*RANDSTAD ADDED TO THE ING BENELUX FAVOURITES LIST