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

>>> Up
*ACCIONA RAISED TO BUY AT SANTANDER
*EON SE RAISED TO OVERWEIGHT AT BARCLAYS (Note attached)
*FISKARS RAISED TO HOLD AT NORDEA
*METSO RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*RWE RAISED TO EQUALWEIGHT AT BARCLAYS
*SANDVIK RAISED TO NEUTRAL VS UNDERPERFORM AT CREDIT SUISSE (Note attached)
*TECHNIP RAISED TO NEUTRAL VS SELL AT CITI
*VODACOM RAISED TO NEUTRAL VS SELL AT GOLDMAN
*VOESTALPINE RAISED TO OVERWEIGHT AT JPMORGAN

>>> Down
*BAE SYSTEMS CUT TO HOLD VS BUY AT BERENBERG
*LYONDELLBASELL CUT TO NEUTRAL AT JPMORGAN
*NORDEA BANK CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*REXNORD CUT TO NEUTRAL FROM OUTPERFORM AT ROBERT BAIRD

>>> PT Change


>>> Initiation
*ABERTIS RATED NEW HOLD AT BERENBERG; PT EU14
*ACERINOX RATED NEW NEUTRAL AT UBS; PT EU9.5
*APERAM RATED NEW NEUTRAL AT UBS; PT EU36
*ATLANTIA RATED NEW BUY AT BERENBERG; PT EU31
*ARCAM RATED NEW BUY AT DNB, PT SEK275
*B/E AEROSPACE RATED NEW EQUALWEIGHT AT MORGAN STANLEY, PT $52
*BOEING RATED NEW OVERWEIGHT AT MORGAN STANLEY, PT $153
*EUROFINS SCIENTIFIC RATED NEW BUY AT GOLDMAN
*IGNYTA RATED NEW OVERWEIGHT AT JPMORGAN
*JARDINE LLOYD RATED NEW OUTPERFORM AT RBC; PT 1,050P
*JOHN LAING RATED NEW BUY AT BERENBERG; PT 280P
*MTS SYSTEMS RATED NEW OVERWEIGHT AT JPMORGAN
*OCI REINSTATED AT OVERWEIGHT AT JPMORGAN, PT EU16.50
*OUTOKUMPU RATED NEW BUY AT UBS; PT EU4.8
*POPULAR INC. RATED NEW EQUALWEIGHT AT BARCLAYS
*ROCKWELL COLLINS RATED NEW EQUALWEIGHT AT MORGAN STANLEY
*TELKOM SA REINSTATED AT NEUTRAL AT GOLDMAN; PT ZAR73.1
*TEXTRON RATED NEW UNDERWEIGHT AT MORGAN STANLEY, PT $39

>>> Call
>> Stock
*BEZEQ ADDED TO CEEMEA FOCUS LIST AT GOLDMAN
*NOVOLIPETSK STEEL ADDED TO CEEMEA FOCUS LIST AT GOLDMAN