>>> Europe : Brokers Upgrades & Downgrades - 8th of August 2016

>>> Up
*DEUTZ RAISED TO BUY VS HOLD AT HSBC
*EDF RAISED TO REDUCE VS SELL AT ALPHAVALUE
*ERG RAISED TO OUTPERFORM AT MEDIOBANCA SPA
*GRENKE RAISED TO BUY VS HOLD AT BANKHAUS LAMPE
*IAMGOLD RAISED TO SECTOR PERFORM AT RBC CAPITAL
*KERRY GROUP RAISED TO BUY VS HOLD AT LIBERUM

>>> Down
*CREDIT SUISSE CUT TO ADD VS BUY AT ALPHAVALUE
*COGNIZANT TECHNOLOGY CUT TO NEUTRAL AT NOMURA
*FUGRO CUT TO REDUCE VS ADD AT ALPHAVALUE
*MEGGITT CUT TO HOLD VS BUY AT BERENBERG
*NOVO NORDISK CUT TO HOLD AT NORDEA
*OUTOTEC CUT TO UNDERWEIGHT AT JPMORGAN
*RBS CUT TO NEUTRAL VS OUTPERFORM AT MACQUARIE
*SOLOCAL CUT TO SELL VS BUY AT ALPHAVALUE
*UBI BANCA CUT TO NEUTRAL AT CREDIT SUISSE

>>> PT Change


>>> Initiation
*CREST NICHOLSON RATED NEW BUY AT UBS, PT 485P

>>> Call