>>> Europe : Brokers Upgrades & Downgrades - 4th of January 2018

>>> Up
* Credit Agricole Upgraded to Buy at HSBC; PT 18 Euros
* Mail.ru Group GDRs Raised to Outperform at Credit Suisse; PT $45
* Natixis Upgraded to Buy at HSBC; PT 8 Euros
* Next Upgraded to Hold at HSBC; PT 46 Pounds
* Solvay Upgraded to Buy at SocGen; PT 135 Euros

>>> Down
* BNP Paribas Downgraded to Hold at HSBC; PT 67 Euros
* Croda Downgraded to Hold at Jefferies; PT 47 Pounds
* Enav Downgraded to Equal-weight at Barclays; PT 4.70 Euros
* Falck Renewables Cut to Reduce at Kepler Cheuvreux
* Gerry Weber Cut to Reduce at Kepler Cheuvreux; PT 8.90 Euros
* Hochschild Mining Cut to Sector Perform at RBC; PT 2.60 Pounds
* Roku Downgraded to Underweight at Morgan Stanley; PT $30
* SocGen Downgraded to Hold at HSBC; PT 46 Euros

>>> Initiation
* ABN Amro GDRs Rated New Hold at HSBC; PT 28 Euros
* Medios Rated New Buy at Kepler Cheuvreux; PT 24 Euros

>>> Call