>>> Europe : Brokers Upgrades & Downgrades - 6th of April 2016

>>> Up
*BIOMERIEUX RAISED TO OUTPERFORM VS NEUTRAL AT EXANE
*CRH RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*ELECTROCOMPONENTS RAISED TO NEUTRAL AT CREDIT SUISSE
*NORDEA BANK RAISED TO OVERWEIGHT AT BARCLAYS
*TELEFONICA RAISED TO NEUTRAL VS UNDERPERFORM AT CREDIT SUISSE (Full note attached)

>>> Down
*ABB CUT TO SECTOR PERFORM AT RBC CAPITAL
*BOUYGUES CUT TO ADD VS BUY AT ALPHAVALUE
*GN STORE NORD CUT TO NEUTRAL VS BUY AT BOFAML
*GULF MARINE SERVICES CUT TO NEUTRAL VS OVEREIGHT AT JPMORGAN
*HEIDELBERGCEMENT CUT TO NEUTRAL AT JPMORGAN
*HERA CUT TO SELL VS NEUTRAL AT CITI
*LAFARGEHOLCIM CUT TO REDUCE AT HSBC
*ROTORK CUT TO UNDERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY
*TURKCELL CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN

>>> PT Change
*MONEYSUPERMARKET REITERATE OUTPERFORM AT CREDIT SUISSE, PT RAISED FROM 350p to 400p (Full note attached)

>>> Initiation
*EUROCASTLE RATED NEW OUTPERFORM AT CREDIT SUISSE; PT EU10
*IMIMOBILE RATED NEW BUY AT INVESTEC, PT 210P
*KLEPIERRE RATED NEW EQUALWEIGHT AT BARCLAYS, PT EU40.6
*UNIBAIL-RODAMCO RATED NEW UNDERWEIGHT AT BARCLAYS, PT EU220

>>> Call
>> Stock
*ANIMA, EI TOWERS, IREN SET AS NEW LONGS AT MEDIOBANCA
*CERVED, POSTE, SARAS REMOVED FROM LONG STOCKS AT MEDIOBANCA
*WARTSILA ADDED TO HSBC EUROPE SUPER 10 PORTFOLIO
*UBI SET AS NEW SHORT AT MEDIOBANCA, REPLACING FERRAGAMO