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

>>> Up
*ABERTIS RAISED TO BUY VS NEUTRAL AT UBS
*ACACIA MINING RAISED TO ADD VS HOLD AT PEEL HUNT
*BAYER RAISED TO BUY VS NEUTRAL AT BOFA
*CENTRICA RAISED TO OUTPERFORM AT BERNSTEIN
*DIA RAISED TO BUY AT HSBC
*ENAGAS RAISED TO OUTPERFORM VS NEUTRAL AT MEDIOBANCA
*GAS NATURAL FENOSA RAISED TO NEUTRAL VS SELL AT UBS
*GLAXOSMITHKLINE RAISED TO NEUTRAL VS UNDERPERFORM AT BOFA
*ORKLA RAISED TO HOLD AT NORDEA
*PEARSON RAISED TO BUY AT KEPLER CHEUVREUX
*ROVI RAISED TO BUY VS HOLD AT KEPLER CHEUVREUX
*UNITED UTILITIES RAISED TO OUTPERFORM AT BERNSTEIN
*WACKER NEUSON RAISED TO BUY VS HOLD AT KEPLER CHEUVREUX

>>> Down
*ADMIRAL CUT TO NEUTRAL VS BUY AT BOFA
*BNP PARIBAS CUT TO UNDERPERFORM VS NEUTRAL AT MEDIOBANCA
*CENTRICA CUT TO SELL VS NEUTRAL AT UBS
*IBERDROLA CUT TO NEUTRAL VS BUY AT UBS
*MERCK KGAA CUT TO UNDERPERFORM VS NEUTRAL AT BOFA
*RWE CUT TO MARKET PERFORM AT BERNSTEIN
*VERBUND CUT TO SELL FROM BUY AT UBS

>>> PT Change


>>> Initiation
*ABB RATED NEW NEUTRAL AT CREDIT SUISSE
*BLUEFIELD SOLAR INCOME FUND RATED NEW HOLD AT JEFFERIES
*FCC RATED NEW NEUTRAL AT CITI
*FORESIGHT SOLAR FUND RATED NEW HOLD AT JEFFERIES
*FRESENIUS MEDICAL CARE RATED NEW BUY AT BANKHAUS LAMPE, PT EU80
*FRESENIUS SE RATED NEW HOLD AT BANKHAUS LAMPE, PT EU60
*JOHN LAING ENVIRONMENTAL ASSETS RATED NEW BUY AT JEFFERIES
*NEXTENERGY SOLAR FUND RATED NEW HOLD AT JEFFERIES
*PHILIPS RATED NEW OUTPERFORM AT CREDIT SUISSE
*RENEWABLES INFRASTRUCTURE GROUP RATED NEW BUY AT JEFFERIES
*SCHNEIDER RATED NEW OUTPERFORM AT CREDIT SUISSE
*SIEMENS RATED NEW NEUTRAL AT CREDIT SUISSE

>>> Call
>> Call
*AVEVA ADDED TO CREDIT SUISSE EUROPE SMID FOCUS LIST
*SANOFI ADDED TO EUROPE 1 LIST AT BOFA; ACTELION REMOVED