>>> Europe : Brokers Upgrades & DOwngrades - 22nd of May 2015

>>> Up
*AMEC FOSTER WHEELER RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*BP RAISED TO NEUTRAL VS UNDERWEIGHT AT JPMORGAN
*ENI RAISED TO NEUTRAL VS UNDERWEIGHT AT JPMORGAN
*GRAFTON RAISED TO BUY VS UNDERPERFORM AT JEFFERIES
*HOWDEN JOINERY RAISED TO BUY VS UNDERPERFORM AT JEFFERIES
*SWISS RE RAISED TO BUY AT CITI
*TOTAL RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*TRAVIS PERKINS RAISED TO BUY VS UNDERPERFORM AT JEFFERIES
*WOLSELEY RAISED TO BUY VS UNDERPERFORM AT JEFFERIES


>>> Down
*AVEVA CUT TO HOLD VS BUY AT BERENBERG
*BHP BILLITON CUT TO MARKET PERFORM AT BMO CAPITAL MARKETS
*HANNOVER RE CUT TO SELL AT CITI
*ID LOGISTICS CUT TO HOLD VS BUY AT BERENBERG
*SCOR CUT TO NEUTRAL VS BUY AT CITI
*SOCGEN CUT TO UNDERPERFORM VS HOLD AT JEFFERIES
*STANDARD LIFE CUT TO SECTOR PERFORM AT RBC CAPITAL

>>> PT Change


>>> Initiation
*SLM SOLUTIONS RATED NEW BUY AT BERENBERG, PT EU28

>>> Call