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

>>> Up
*GRAINGER RAISED TO OVERWEIGHT AT JPMORGAN
*GRAND CITY PROPERTIES RAISED TO OVERWEIGHT AT JPMORGAN
*IMPERIAL HOLDINGS RAISED TO HOLD VS SELL AT RENAISSANCE CAPITAL
*JULIUS BAER RAISED TO BUY VS NEUTRAL AT CITI
*SCHINDLER RAISED TO SECTOR PERFORM AT RBC CAPITAL
*U AND I GROUP PLC RAISED TO OVERWEIGHT AT JPMORGAN

>>> Down
*ASSOCIATED BRITISH FOODS CUT TO EQUAL-WEIGHT AT MORGAN STANLEY
*BIG YELLOW GROUP CUT TO UNDERWEIGHT AT JPMORGAN
*INTERCONTINENTAL HOTELS CUT TO NEUTRAL VS BUY AT GOLDMAN
*PROSIEBENSAT.1 MEDIA SE CUT TO UNDERWEIGHT AT JPMORGAN
*SOLARCITY CUT TO HOLD VS BUY AT STIFEL
*SYNTHOMER CUT TO SELL VS NEUTRAL AT UBS
*TESLA MOTORS CUT TO MARKET PERFORM AT OPPENHEIMER

>>> PT Change


>>> Initiation
*CENTAMIN RATED NEW HOLD AT JEFFERIES
*DIXONS CARPHONE RATED NEW BUY AT HSBC, PT 460P
*PADDY POWER BETFAIR REINSTATED NEUTRAL AT GOLDMAN; PT 10,200P
*SIF HOLDING RATED NEW BUY AT HSBC

>>> Call
>> Stock
*INGENICO ADDED TO CONVICTION BUY LIST AT GOLDMAN