>>> Europe : Brokers Upgrades & Downgrades - 22nd of March 2017

>>> Up
*BBVA Raised to Overweight at Barclays
*Fraport Raised to Buy at DZ Bank, PT EU72
*Fraport Raised to Reduce at AlphaValue
*Hunting Raised to Overweight at Barclays
*Vallourec Raised to Buy at Goldman, PT EU7.40
*Wacker Chemie Raised to Overweight at JPMorgan, PT EU115
*William Hill Raised to Hold at Investec, PT 279p

>>> Down
*Aurubis Cut to Hold at Berenberg, PT EU62
*Bechtle Cut to Hold at Baader-Helvea
*Berendsen Cut to Underperform at Credit Suisse, PT 700p
*Bourbon Cut to Sell at SocGen, PT EU6
*Centrica Cut to Sell at Investec, PT 195p
*Fingerprint Cards Cut to Hold at Pareto Securities, PT SEK35
*Fingerprint Cards Cut to Hold at SEB Equities, PT SEK40
*Gemalto Cut to Neutral at Natixis
*Merlin Cut to Hold at Kepler Cheuvreux, PT EU11.30
*Peab Cut to Hold at DNB Markets, PT SEK90
*PSP Swiss Cut to Sell at Baader-Helvea, PT CHF86
*Raiffeisen Cut to Hold at Commerzbank, PT EU21
*Schroders Cut to Sector Perform at RBC, PT 3300p
*Talanx Cut to Sell at DZ Bank, PT EU31.20
*Wood Group Cut to Underperform at Jefferies, PT 650p
*Zodiac Aerospace Cut to Sell at AlphaValue

>>> Initiation
*Casino Guichard Reinstated Overweight at JPMorgan, PT EU60

>>> Call