>>> Europe : Brokers Upgrades & Downgrades - 9th of May 2016

>>> Up
*AKER SOLUTIONS RAISED TO BUY VS NEUTRAL AT CITI
*EASYJET RAISED TO OUTPERFORM AT RBC CAPITAL
*HOIST FINANCE RAISED TO OVERWEIGHT AT MORGAN STANLEY
*IPSEN RAISED TO OVERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY
*ROTORK RAISED TO NEUTRAL VS UNDERPERFORM AT EXANE
*SMITH & NEPHEW RAISED TO BUY AT JEFFERIES
*TULLOW OIL RAISED TO OUTPERFORM VS MARKET PERFORM AT BMO
*WEIR GROUP RAISED TO OUTPERFORM VS NEUTRAL AT EXANE

>>> Down
*CENTAMIN EGYPT CUT TO SELL VS NEUTRAL AT CITI
*INTERCONTINENTAL HOTELS CUT TO NEUTRAL VS BUY AT ODDO
*RESTAURANT GROUP CUT TO NEUTRAL VS BUY AT UBS
*STATOIL CUT TO NEUTRAL VS BUY AT UBS
*TOTAL CUT TO NEUTRAL VS BUY AT UBS
*VALE CUT TO HOLD VS BUY AT SOCIETE GENERALE

>>> PT Change


>>> Initiation
*VALLOUREC RESUMED AT UNDERPERFORM VS RESTRICTED AT EXANE

>>> Call
>> Sector
*EUROPE HEALTHCARE RAISED FROM UNDERWEIGHT TO OVERWEIGHT AT BERNSTEIN