>>> Europe : Brokers Upgrades & Downgrades - 22nd of August 2016

>>> Up
*BODYCOTE RAISED TO NEUTRAL AT JPMORGAN
*BW OFFSHORE RAISED TO BUY VS HOLD AT PARETO
*CARREFOUR RAISED TO OUTPERFORM AT BERNSTEIN
*GALICIA RAISED TO NEUTRAL VS SELL AT CITI
*HEALTHWAYS INC RAISED TO EQUALWEIGHT AT BARCLAYS
*KAZ MINERALS RAISED TO BUY VS NEUTRAL AT UBS
*KOMAX RAISED TO BUY VS NEUTRAL AT UBS
*NN GROUP RAISED TO BUY VS NEUTRAL AT BOFAML
*RUSHYDRO RAISED TO BUY AT RENAISSANCE CAPITAL

>>> Down
*CARLSBERG CUT TO SECTOR PERFORM AT RBC CAPITAL
*SUEDZUCKER CUT TO NEUTRAL VS BUY AT GOLDMAN

>>> PT Change


>>> Initiation
*WILLIAM HILL REINSTATED AT OVERWEIGHT AT BARCLAYS; PT 340P

>>> Call