>>> Europe : Brokers Upgrades & Downgrades - 28th of October 2016

>>> Up
*Lonza Raised to Hold at Baader-Helvea, PT CHF180
*UPM Raised to Neutral at Goldman, PT EU21

>>> Down
*Autoliv Cut to Neutral at Baird, PT $104
*Azimut Cut to Hold at Deutsche Bank, PT EU18
*BOSKALIS CUT TO HOLD VS BUY AT ING
*Sponda Cut to Neutral at UBS, PT EU4.60

>>> PT Change


>>> Initiation


>>> Call