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

>>> Up
*GENERALI RAISED TO BUY AT SOCIETE GENERALE
*H&M RAISED TO NEUTRAL VS SELL AT UBS
*SMITHS GROUP RAISED TO BUY VS NEUTRAL AT CITI

>>> Down
*ABERTIS CUT TO REDUCE VS HOLD AT KEPLER CHEUVREUX
*L’OREAL CUT TO HOLD AT HSBC
*SAINT-GOBAIN CUT TO HOLD AT HSBC {NSN NWK30V6K50YD<Go>}

>>> PT Chnage


>>> Initiation
*ADIDAS RATED NEW OUTPERFORM AT MACQUARIE, PT EU98
*DET NORSKE RATED NEW HOLD AT JEFFERIES, PT NOK57
*LUNDIN PETROLEUM RATED NEW BUY AT JEFFERIES, PT SEK147
*PUMA RATED NEW NEUTRAL AT MACQUARIE, PT EU190
*SSE RATED NEW HOLD AT JEFFERIES, PT 1,600P

>>> Call
>> Stock
*SKF, RATOS ENTER NORDIC TOP PICKS LIST AT KEPLER CHEUVREUX