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

>>> Up
* Capita Raised But Visibility Still Limited: Morgan Stanley
* Dassault Systemes Raised to Equal-weight at Barclays
* JM Upgraded to Hold at SEB Equities; PT 191 Kronor
* Nokia Upgraded to Buy at SEB Equities; PT 5.20 Euros
* PGS Upgraded to Neutral at SpareBank; PT 25 Kroner
* Suez Upgraded to Neutral at Credit Suisse; Price Target 12 Euros

>>> Down
* Airbus Downgraded to Neutral at Credit Suisse; PT 91 Euros
* Alphabet Downgraded to Hold at Stifel; Price Target $1,150
* Apple Downgraded to Sector Weight at Keybanc
* Bucher Downgraded to Hold at Baader-Helvea; PT 450 Francs
* Elis Downgraded to Hold at Berenberg
* Ericsson Downgraded to Reduce at AlphaValue
* Europris Downgraded to Hold at ABG; PT 33 Kroner
* JCDecaux Cut to Underweight at Barclays; Price Target 31 Euros
* Lundin Petroleum Cut to Hold at DNB Markets; PT 215 Kronor
* Mauna Kea Technologies Cut to Sell at SocGen; PT 2.40 Euros
* Sodexo Downgraded to Underweight at Morgan Stanley; PT 98 Euros

>>> Initiation
* Alkemy Rated New Buy at Intermonte Securities; PT 15.40 Euros
* Banca Ifis Rated New Neutral at Intermonte Securities
* Fresenius Medical Reinstated Equal-weight at Barclays
* Fresenius SE Reinstated at Barclays With Overweight; PT 81 Euros
* Mediclinic Reinstated Overweight at Barclays; PT 7.51 Pounds
* NMC Health Rated New Overweight at Barclays; PT 41 Pounds
* Royal Mail Rated New Hold at SocGen; PT 4.80 Pounds
* Spire Healthcare Reinstated Equal-weight at Barclays
* Tenaris Rated New Outperform at Intermonte Securities