>>> Europe : Brokers Upgrades & Downgrades - 21st of January 201

>>> Up
*ASML RAISED TO BUY VS NEUTRAL AT UBS
*ASML RAISED TO BUY AT BANK DEGROOF PETERCAM
*CAP GEMINI ADDED TO CONVICTION LIST AT GOLDMAN; STAYS BUY
*GAM HOLDING RAISED TO OUTPERFORM AT RBC CAPITAL
*INDITEX RAISED TO OUTPERFORM VS NEUTRAL AT EXANE, PT EU32
*INDRA RAISED TO BUY VS NEUTRAL AT GOLDMAN
*SCHRODERS RAISED TO OUTPERFORM VS SECTOR PERFORM AT RBC
*TECNICAS REUNIDAS RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*WH SMITH RAISED TO BUY VS HOLD AT STIFEL
*WORLDPAY RAISED TO BUY VS NEUTRAL AT GOLDMAN

>>> Down
*ACCOR CUT TO UNDERWEIGHT VS OVERWEIGHT AT BARCLAYS
*ANGLO AMERICAN CUT TO SELL VS NEUTRAL AT CITI
*BG GROUP CUT TO SELL VS REDUCE AT ALPHAVALUE
*BP CUT TO ADD VS BUY AT ALPHAVALUE
*AVEVA CUT TO SELL VS NEUTRAL AT GOLDMAN
*EDENRED CUT TO UNDERPERFORM VS NEUTRAL AT CREDIT SUISSE
*ERICSSON CUT TO SELL VS NEUTRAL AT GOLDMAN
*ROLLS-ROYCE CUT TO UNDERWEIGHT AT MORGAN STANLEY
*SAMPO CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*TECHNIP CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*TOTAL CUT TO REDUCE VS ADD AT ALPHAVALUE
*VISCOFAN CUT TO SELL VS NEUTRAL AT UBS
*ZURICH INSURANCE CUT TO NEUTRAL VS BUY AT UBS
*ZURICH INSURANCE CUT TO ADD VS BUY AT ALPHAVALUE

>>> PT Change


>>> Initiation
*CRANSWICK RATED NEW BUY AT LIBERUM, PT 2,200P
*MEDIASET RATED NEW BUY AT UBS; PT EU4.85
*MONCLER RATED NEW BUY AT CITI; PT EU15.50
*PRYSMIAN REINITIATED AT BUY AT KEPLER CHEUVREUX; PT EU23
*SAFRAN RATED NEW OVERWEIGHT AT MORGAN STANLEY, PT EU77
*TECHNICOLOR REINSTATED NEUTRAL AT GOLDMAN, PT EU8

>>> Call
>> Stock
*AGEAS REMOVED FROM ANALYST FOCUS LIST AT JPMORGAN
*CAP GEMINI ADDED TO CONVICTION LIST AT GOLDMAN; STAYS BUY