>>> Europe : Brokers Upgrades & Downgrades - 7th of May 2015

>>> Up
*BUNZL RAISED TO BUY VS NEUTRAL AT HSBC
*DEUTZ RAISED TO BUY VS HOLD AT KEPLER CHEUVREUX
*INFINEON RAISED TO BUY VS HOLD AT HSBC
*LAFARGE RAISED TO MARKET PERFORM AT SANFORD BERNSTEIN
*POSTNL RAISED TO NEUTRAL VS SELL AT CITI
*RATIONAL RAISED TO HOLD VS REDUCE AT KEPLER CHEUVREUX

>>> Down
*FLUGHAFEN ZURICH CUT TO NEUTRAL VS BUY AT GOLDMAN
*JC DECAUX CUT TO NEUTRAL VS BUY AT ODDO
*TUI CUT TO NEUTRAL VS ACCUMULATE AT EQUINET


>>> PT Change


>>> Initiation
*PREMIER OIL RATED NEW HOLD AT JEFFERIES, PT 165P
*REFRESCO GERBER RATED NEW BUY AT HSBC, PT EU16

>>> Call
>> Stock
*AEROPORTS DE PARIS ADDED TO CONVICTION SELL LIST AT GOLDMAN
*FIRSTGROUP ADDED TO CONVICTION BUY LIST AT GOLDMAN
*MOSCOW EXCHANGE REMOVED FROM GOLDMAN CEEMEA FOCUS LIST