>>> Europe : Brokers Upgrades & Downgrades - 23rd of August 2016

>>> Up
*INDITEX RAISED TO BUY VS HOLD AT HSBC
*SINGULUS TECHNOLOGIES RAISED TO NEUTRAL AT ODDO SEYDLER

>>> Down
*CEMBRA MONEY BANK CUT TO NEUTRAL VS BUY AT UBS
*DEEP SEA SUPPLY CUT TO HOLD AT NORDEA
*JUNGHEINRICH CUT TO HOLD VS BUY AT BERENBERG
*LOGITECH CUT TO NEUTRAL VS BUY AT UBS
*POSTNL CUT TO NEUTRAL VS OUTPERFORM AT DAVY

>>> PT Change


>>> Initiation


>>> Call