Analyst Ratings Changes as of 0900 GMT

 
BROKER &          NEW RATING  (FROM)    TARGET (PREVIOUS) 
COMPANY 
========================================================= 
Barclays: 
Aviva             Equalweight (Overweight) 
Saipem             Overweight (Underweight) 
========================================================= 
Citigroup: 
Bellway               Neutral (Buy) 
========================================================= 
Credit Suisse: 
Marks & Spencer       Neutral (Underperform) 
========================================================= 
Fresenius Medical        Hold (Underperform) 
 
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