>>> Europe : Brokers Upgrades & Downgrades - 4th of August 2016

>>> Up
*APERAM RAISED TO OUTPERFORM AT RBC CAPITAL
*BANK PEKAO RAISED TO HOLD VS SELL AT SOCGEN
*BAYTEX ENERGY RAISED TO OUTPERFORM AT FIRSTENERGY CAPITAL
*EDF RAISED TO HOLD VS UNDERPERFORM AT JEFFERIES
*ENDESA RAISED TO SECTOR PERFORM AT RBC CAPITAL
*ETTEPLAN RAISED TO BUY AT NORDEA
*FERREXPO RAISED TO NEUTRAL VS UNDERPERFORM AT CREDIT SUISSE
*HSBC RAISED TO BUY VS UNDERPERFORM AT BOFAML, PT 570 PENCE
*SAFILO RAISED TO HOLD AT KEPLER CHEUVREUX
*TOTAL RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS

>>> Down
*ACRON CUT TO NEUTRAL VS OUTPERFORM AT CREDIT SUISSE
*CHATHAM LODGING TRUST CUT TO EQUALWEIGHT AT BARCLAYS
*CVR REFINING CUT TO UNDERWEIGHT AT BARCLAYS
*DEUTSCHE POST CUT TO ACCUMULATE VS BUY AT EQUINET
*DIRECT LINE GROUP CUT TO HOLD VS BUY AT BERENBERG
*HIKMA CUT TO NEUTRAL VS BUY AT CITI
*KOMERCNI BANKA CUT TO UNDERPERFORM VS NEUTRAL AT CREDIT SUISSE
*URALKALI CUT TO UNDERPERFORM AT CREDIT SUISSE

>>> PT Change


>>> Initiation


>>> Call