>>> Europe : Brokers Upgrades & Downgrades - 2nd of May 2016

>>> Up
*COLGATE-PALMOLIVE RAISED TO NEUTRAL VS SELL AT GOLDMAN

>>> Down
*ACERINOX CUT TO REDUCE VS ADD AT ALPHAVALUE
*AENA CUT TO NEUTRAL VS BUY AT CITI
*HUGO BOSS CUT TO SELL VS HOLD AT BANKHAUS LAMPE

>>> PT Change


>>> Initiation
*SENVION RATED NEW BUY AT CITI; PT EU19.5

>>> Call