>>> Upgrade
*BUZZI UNICEM RAISED TO CONVICTION BUY VS NEUTRAL AT GOLDMAN
*ING GROUP RAISED TO BUY VS NEUTRAL AT BOFA
*LAGARDERE RAISED TO BUY VS NEUTRAL AT CITI
*PANDORA RAISED TO BUY VS NEUTRAL AT BOFA
>>> Downgrade
*CHRISTIAN DIOR CUT TO UNDERPERFORM AT BOFA
*COMPASS GROUP CUT TO SELL VS HOLD AT SOCIETE GENERALE
*HERMES CUT TO NEUTRAL AT BOFA
*HSBC CUT TO NEUTRAL VS CONVICTION BUY AT GOLDMAN
*HUGO BOSS CUT TO NEUTRAL AT BOFA
*K+S CUT TO HOLD VS BUY AT SOCGEN
*LVMH CUT TO UNDERPERFORM AT BOFA
*ORANGE POLSKA CUT TO REDUCE VS HOLD AT HSBC
*SAFT CUT TO HOLD VS BUY AT HSBC
*SODEXHO CUT TO HOLD AT SOCIETE GENERALE
*STANDARD LIFE CUT TO UNDERPERFORM AT RBC CAPITAL
*TOD’S CUT TO UNDERPERFORM AT BOFA
*ULTRA ELECTRONICS CUT TO SELL VS HOLD AT BERENBERG
>>> PT Change
>>> Initiation
*COUNTRYWIDE RATED NEW BUY AT CITI, PT 700P
*ELIOR RATED NEW BUY AT SOCIETE GENERALE, PT EU22
*FOXTONS RATED NEW SELL AT CITI, PT 215P
*HALMA RATED NEW BUY AT JEFFERIES
*LSL PROPERTY SERVICES RATED NEW BUY AT CITI, PT 545P
>>> Call
>> Stock
*CANCOM ADDED TO BANKHAUS LAMPE ALPHA LIST
*FINMECCANICA, SARAS NEW LONGS AT MEDIOBANCA; REPLACE ANIMA, FCA
*HSBC REMOVED FROM GOLDMAN DIRECTORS OF RESEARCH FOCUS LIST
*SAIPEM SET AS NEW SHORT AT MEDIOBANCA, REPLACING SNAM