>>> Europe : Brokers Upgrades & Downgrades - 2nd of February 201

>>> Up
*Aena Raised to Buy at Intermoney Valores, PT EU152
*Anglo American Raised to Buy at Investec, PT ZAr27300
*ArcelorMittal Raised to Buy at Goldman, PT EU9.30
*Electrolux Raised to Buy at DNB Markets
*Grainger Raised to Buy at Peel Hunt
*Pearson Raised to Neutral at Credit Suisse
*Salzgitter Raised to Buy at Goldman, PT EU45
*Volvo Raised to Neutral at JPMorgan, PT SEK110
*Whitbread Raised to Buy at Oddo & Cie, PT 4600p

>>> Down
*Electrolux Cut to Underweight at JPMorgan, PT SEK210
*Julius Baer Cut to Hold at SocGen, PT CHF51
*Logista Cut to Neutral at BPI, PT EU23.80
*Mitchells & Butlers Cut to Underweight at Barclays
*NN Cut to Underperform at KBW, PT EU29
*Novozymes Cut to Sell at Goldman, PT DKK226
*Punch Taverns Cut to Equal-Weight at Barclays
*Shutterfly Cut to Neutral at Baird
*Stabilus Cut to Hold at Commerzbank, PT EU57.50
*ThyssenKrupp Cut to Hold at Baader-Helvea, PT EU25
*Trelleborg Cut to Hold at ABG Sundal, PT SEK195

>>> PT Change

>>> Initiation
*Ashmore Rated New Hold at HSBC, PT 285p
*Ashmore Rated New Hold at HSBC, PT 285p
*Hargreaves Lansdown Rated New Hold at HSBC, PT 1320p
*Jupiter Rated New Buy at HSBC, PT 485p
*St James's Place Rated New Buy at HSBC, PT GBP12.80
*Schroders Rated New Hold at HSBC, PT 3180p
*SFR Group Rated New Equal-Weight at Morgan Stanley, PT EU29.60