UBS Research: Rating Change http://clientportal.ibb.ubs.com/portal/index.jsp?page=eqresearch UBS Research: Rating Change en Copyright (C) UBS 2009. All rights reserved. eMarketing@ubs.com eMarketing@ubs.com Fri, 3 Jul 2009 Sat, 4 Jul 2009 60 http://clientportal.ibb.ubs.com/portal/index.jsp?page=eqrschrss http://research.ibb.ubs.com:80/images/logo.gif UBS http://www.ubs.com 160 44 <![CDATA[France Telecom "Downgrade to Sell, risks rising" (Sell) Lyall]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63556|native|public Regions
  • Europe Including UK

  • Europe Ex. UK

  • France

  • Global

  • UBSW EMEA


Sectors
  • French Fixed-Line Communications

  • European Fixed-Line Communications

  • European Ex. UK Fixed-Line Communications

  • Global Fixed-Line Communications

  • European Telecommunications

  • European Ex. UK Telecommunications

  • French Telecommunications

  • Global Telecommunications


Companies
  • BOUY.PA Bouygues

  • VIV.PA Vivendi

  • FTE.PA France Telecom

  • ILD.PA Iliad


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Nick Lyall BOUY.PA VIV.PA FTE.PA ILD.PA http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63556|native|public|20090703113846 Fri, 3 Jul 2009 <![CDATA[CP All "Taking a breather, downgrade to Neutral" (Neutral) Panichkul]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48288|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Thailand

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Retailers, Broadline

  • Global Consumer, Cyclical

  • Global Retail

  • Asian Retailers, Broadline

  • Thai Retailers, Broadline

  • Asian Consumer, Cyclical

  • Asian Retail

  • Thai Consumer, Cyclical

  • Thai Retail

  • Asian Pacific Consumer, Cyclical

  • Asian Pacific Retailers, Broadline

  • Asian Pacific Retail

  • Asian Pacific Ex. JP Consumer, Cyclical

  • Asian Pacific Ex. JP Retailers, Broadline

  • Asian Pacific Ex. JP Retail

  • Asia Emerging Consumer, Cyclical

  • Asia Emerging Retailers, Broadline

  • Asia Emerging Retail


Companies
  • CPALL.BK CP All


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Piyanan Panichkul CPALL.BK http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48288|native|public|20090703102412 Fri, 3 Jul 2009 <![CDATA[CMT "SREIT index laggard; maintain Buy rating" (Buy) Lim]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48280|native|public Regions
  • Global

  • Asia

  • Singapore

  • Asia Pacific

  • Asia Pacific Ex. JP


Sectors
  • Global Real Estate

  • Global Financial

  • Global Financial Services

  • Asian Real Estate

  • Singaporean Real Estate

  • Asian Financial

  • Singaporean Financial

  • Asian Financial Services

  • Singaporean Financial Services

  • Asian Pacific Financial

  • Asian Pacific Financial Services

  • Asian Pacific Real Estate

  • Asian Pacific Ex. JP Financial

  • Asian Pacific Ex. JP Financial Services

  • Asian Pacific Ex. JP Real Estate


Companies
  • CTDM.SI City Developments

  • CATL.SI CapitaLand

  • CMLT.SI CMT

  • SUNT.SI Suntec


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Michael Lim CTDM.SI CATL.SI CMLT.SI SUNT.SI http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48280|native|public|20090703085819 Fri, 3 Jul 2009 <![CDATA[Rengo "Good Q1 result expected, but earnings momentum seen peaking in H1"]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uew16324|native|public Regions
  • Global

  • Asia Pacific

  • Japan


Sectors
  • Global Paper Products

  • Global Basic Materials

  • Global Forest Products & Paper

  • Global Basic Resources

  • Japanese Paper Products

  • Japanese Basic Materials

  • Japanese Forest Products & Paper

  • Japanese Basic Resources


Companies
  • 3941.T Rengo


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Takaaki Muramatsu 3941.T http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uew16324|native|public|20090702151459 Thu, 2 Jul 2009 <![CDATA[Standard Chart. "More upgrading for trading" (Neutral) Ryan]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63492|native|public Regions
  • Europe Including UK

  • United Kingdom

  • Global

  • UBSW EMEA

  • Asia

  • Asia Pacific

  • Asia Pacific Ex. JP


Sectors
  • European Banks

  • British Banks

  • Global Banks

  • European Financial

  • British Financial

  • Global Financial

  • British Banks, Ex-S&L

  • European Banks, Ex-S&L

  • Global Banks, Ex-S&L

  • Asian Banks

  • Asian Financial

  • Asian Banks, Ex-S&L

  • Asian Pacific Banks, Ex-S&L

  • Asian Pacific Ex. JP Banks, Ex-S&L

  • Asia Emerging Banks, Ex-S&L


Companies
  • HSBA.L HSBC

  • STAN.L Standard Chart.

  • 2888.HK Standard Chart


Subjects
  • Change in Recommendation

  • Company Update

]]> Alastair Ryan HSBA.L STAN.L 2888.HK http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63492|native|public|20090702113310 Thu, 2 Jul 2009 <![CDATA[Dynegy "Exhaling the Exuberance" (Sell) Barone]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76870|native|public Regions
  • Global

  • Americas

  • United States

  • North America


Sectors
  • Global Electric Utilities

  • Global Utilities

  • Americas Electric Utilities

  • US Electric Utilities

  • Americas Utilities

  • US Utilities

  • North American Electric Utilities

  • North American Utilities


Companies
  • DYN.N Dynegy


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Ronald J. Barone DYN.N http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76870|native|public|20090702090437 Thu, 2 Jul 2009 <![CDATA[Koito Mfg. "Estimates raised on hybrid, China strength; maintain Buy rating"]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uew16314|native|public Regions
  • Global

  • Asia Pacific

  • Japan


Sectors
  • Global Auto Parts

  • Global Consumer, Cyclical

  • Global Automobiles

  • Global Auto Parts & Tires

  • Japanese Auto Parts

  • Japanese Consumer, Cyclical

  • Japanese Automobiles

  • Japanese Auto Parts & Tires


Companies
  • 7276.T Koito Mfg.


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Kunihiro Matsumoto 7276.T http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uew16314|native|public|20090630152400 Tue, 30 Jun 2009 <![CDATA[Amorepacific Corp "Upgrade to Buy " (Buy) Lee]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48205|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Korea

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Cosmetics

  • Global Consumer, Non-Cyclical

  • Global Non-Cyclical Goods & Services

  • Asian Cosmetics

  • Korean Cosmetics

  • Asian Consumer, Non-Cyclical

  • Korean Consumer, Non-Cyclical

  • Asian Non-Cyclical Goods & Services

  • Korean Non-Cyclical Goods & Services

  • Asian Pacific Cosmetics

  • Asian Pacific Non-Cyclical Goods & Services

  • Asian Pacific Consumer, Non-Cyclical

  • Asian Pacific Ex. JP Cosmetics

  • Asian Pacific Ex. JP Non-Cyclical Goods & Services

  • Asian Pacific Ex. JP Consumer, Non-Cyclical

  • Asia Emerging Cosmetics

  • Asia Emerging Non-Cyclical Goods & Services

  • Asia Emerging Consumer, Non-Cyclical


Companies
  • 090430.KS Amorepacific Corp

  • 051900.KS LG H&H


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Heather Lee 090430.KS 051900.KS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48205|native|public|20090630120919 Tue, 30 Jun 2009 <![CDATA[Berjaya Sports Toto "Upgrade to Buy" (Buy) Lai]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48187|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Malaysia

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Casinos

  • Global Consumer, Cyclical

  • Global Leisure Goods & Services

  • Global Cyclical Goods & Services

  • Malaysian Casinos

  • Asian Casinos

  • Asian Consumer, Cyclical

  • Asian Leisure Goods & Services

  • Malaysian Consumer, Cyclical

  • Malaysian Leisure Goods & Services

  • Asian Cyclical Goods & Services

  • Malaysian Cyclical Goods & Services

  • Asian Pacific Cyclical Goods & Services

  • Asian Pacific Casinos

  • Asian Pacific Consumer, Cyclical

  • Asian Pacific Leisure Goods & Services

  • Asian Pacific Ex. JP Cyclical Goods & Services

  • Asian Pacific Ex. JP Casinos

  • Asian Pacific Ex. JP Consumer, Cyclical

  • Asian Pacific Ex. JP Leisure Goods & Services

  • Asia Emerging Cyclical Goods & Services

  • Asia Emerging Casinos

  • Asia Emerging Consumer, Cyclical

  • Asia Emerging Leisure Goods & Services


Companies
  • BSTB.KL Berjaya Sports Toto


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Alain Lai BSTB.KL http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48187|native|public|20090630033331 Tue, 30 Jun 2009 <![CDATA[Israel Corp "Downgrade to Neutral" (Neutral) Biron]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76764|native|public Regions
  • Global

  • Israel

  • EMEA Emerging

  • UBSW EMEA

  • Emerging Markets


Sectors
  • Global Industrial, Diversified

  • Israeli Industrial, Diversified

  • EMEA Emerging Industrial, Diversified

  • EMEA Emerging Industrial

  • Global Industrial

  • Israeli Industrial

  • EMEA Emerging Industrial Goods & Services

  • Global Industrial Goods & Services

  • Israeli Industrial Goods & Services

  • Global Emerging Industrial, Diversified

  • Global Emerging Industrial

  • Global Emerging Industrial Goods & Services


Companies
  • ILCO.TA Israel Corp

  • ICL.TA Israel Chemicals


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Roni Biron ILCO.TA ICL.TA http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76764|native|public|20090630030019 Tue, 30 Jun 2009 <![CDATA[Taishin FHC "Downgrade to Sell on stretched valuation" (Sell) Lee]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48173|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Taiwan

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Banks

  • Global Financial

  • Global Banks, Ex-S&L

  • Asian Banks

  • Taiwanese Banks

  • Asian Financial

  • Taiwanese Financial

  • Taiwanese Banks, Ex-S&L

  • Asian Banks, Ex-S&L

  • Asian Pacific Banks, Ex-S&L

  • Asian Pacific Banks

  • Asian Pacific Financial

  • Asian Pacific Ex. JP Banks, Ex-S&L

  • Asian Pacific Ex. JP Banks

  • Asian Pacific Ex. JP Financial

  • Asia Emerging Banks, Ex-S&L

  • Asia Emerging Banks

  • Asia Emerging Financial


Companies
  • 2887.TW Taishin FHC


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Pandora Lee 2887.TW http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48173|native|public|20090629235924 Mon, 29 Jun 2009 <![CDATA[Indofood Agri "Downgrade to Sell" (Sell) Lai]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48168|native|public Regions
  • Global

  • Asia

  • Singapore

  • Asia Pacific

  • Asia Pacific Ex. JP


Sectors
  • Global Agriculture

  • Global Consumer, Non-Cyclical

  • Global Food & Beverage

  • Global Food

  • Asian Agriculture

  • Singaporean Agriculture

  • Asian Consumer, Non-Cyclical

  • Singaporean Consumer, Non-Cyclical

  • Asian Food & Beverage

  • Singaporean Food & Beverage

  • Singaporean Food

  • Asian Food

  • Asian Pacific Food

  • Asian Pacific Food & Beverage

  • Asian Pacific Consumer, Non-Cyclical

  • Asian Pacific Agriculture

  • Asian Pacific Ex. JP Food

  • Asian Pacific Ex. JP Food & Beverage

  • Asian Pacific Ex. JP Consumer, Non-Cyclical

  • Asian Pacific Ex. JP Agriculture


Companies
  • LSIP.JK London Sumatra

  • GAGR.SI Golden Agri

  • IFAR.SI Indofood Agri


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Alain Lai LSIP.JK GAGR.SI IFAR.SI http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48168|native|public|20090629100544 Mon, 29 Jun 2009 <![CDATA[Deutsche Bank "Upgrading to Buy" (Buy) Zieschang]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63303|native|public Regions
  • Germany

  • Europe Including UK

  • Europe Ex. UK

  • Global

  • UBSW EMEA


Sectors
  • German Banks

  • European Banks

  • European Ex. UK Banks

  • Global Banks

  • German Financial

  • European Financial

  • European Ex. UK Financial

  • Global Financial

  • German Banks, Ex-S&L

  • European Banks, Ex-S&L

  • European Ex. UK Banks, Ex-S&L

  • Global Banks, Ex-S&L


Companies
  • BARC.L Barclays

  • DBKGn.DE Deutsche Bank


Subjects
  • Change in Recommendation

  • Company Update

]]> Philipp Zieschang BARC.L DBKGn.DE http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63303|native|public|20090626073843 Fri, 26 Jun 2009 <![CDATA[PetroQuest "Upgrading Shares to Buy on Valuation" (Buy) Coleman]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76690|native|public Regions
  • Global

  • Americas

  • United States

  • North America


Sectors
  • Global Oil Companies, Secondary

  • Global Energy

  • Americas Oil Companies, Secondary

  • US Oil Companies, Secondary

  • Americas Energy

  • US Energy

  • North American Energy

  • North American Oil Companies, Secondary


Companies
  • PQ.N PetroQuest


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Andrew Coleman PQ.N http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76690|native|public|20090625184342 Thu, 25 Jun 2009 <![CDATA[Focus Media "Talks likely continue"" (Buy) Leung]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48085|native|public Regions
  • Global

  • Asia

  • China

  • Asia Pacific

  • Asia Pacific Ex. JP


Sectors
  • Global Advertising

  • Global Consumer, Cyclical

  • Global Media

  • Asian Advertising

  • Chinese Advertising

  • Asian Consumer, Cyclical

  • Chinese Consumer, Cyclical

  • Asian Media

  • Chinese Media

  • Asian Pacific Advertising

  • Asian Pacific Consumer, Cyclical

  • Asian Pacific Media

  • Asian Pacific Ex. JP Advertising

  • Asian Pacific Ex. JP Consumer, Cyclical

  • Asian Pacific Ex. JP Media


Companies
  • FMCN.O Focus Media


Subjects
  • Change in Recommendation

  • Company Update

  • Operating Results

  • Morning Note

]]> Spencer Leung FMCN.O http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48085|native|public|20090625142530 Thu, 25 Jun 2009 <![CDATA[Samsung SDI "Battery/AM-OLED buoy outlook " (Buy) Kim]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48081|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Korea

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Electric Components & Equipment

  • Global Industrial

  • Global Industrial Goods & Services

  • Asian Electric Components & Equipment

  • Korean Electric Components & Equipment

  • Asian Industrial

  • Korean Industrial

  • Asian Industrial Goods & Services

  • Korean Industrial Goods & Services

  • Asian Pacific Electric Components & Equipment

  • Asian Pacific Industrial

  • Asian Pacific Industrial Goods & Services

  • Asian Pacific Ex. JP Electric Components & Equipment

  • Asian Pacific Ex. JP Industrial

  • Asian Pacific Ex. JP Industrial Goods & Services

  • Asia Emerging Electric Components & Equipment

  • Asia Emerging Industrial

  • Asia Emerging Industrial Goods & Services


Companies
  • 006400.KS Samsung SDI


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Sean Kim 006400.KS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48081|native|public|20090625115210 Thu, 25 Jun 2009 <![CDATA[KBC "Upgrade to Neutral" (Neutral) Fall]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63243|native|public Regions
  • Belgium

  • Europe Including UK

  • Europe Ex. UK

  • Global

  • UBSW EMEA


Sectors
  • Belgian Banks

  • European Banks

  • European Ex. UK Banks

  • Global Banks

  • Belgian Financial

  • European Financial

  • European Ex. UK Financial

  • Global Financial

  • Belgian Banks, Ex-S&L

  • European Banks, Ex-S&L

  • European Ex. UK Banks, Ex-S&L

  • Global Banks, Ex-S&L


Companies
  • KBC.BR KBC


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Omar Fall KBC.BR http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63243|native|public|20090625103734 Thu, 25 Jun 2009 <![CDATA[AMS "Downgrade to Sell" (Sell) Gaudois]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63254|native|public Regions
  • Switzerland

  • Europe Including UK

  • Europe Ex. UK

  • Global

  • UBSW EMEA


Sectors
  • Swiss Semiconductors

  • European Semiconductors

  • European Ex. UK Semiconductors

  • Global Semiconductors

  • Swiss Technology

  • European Technology

  • European Ex. UK Technology

  • Global Technology


Companies
  • AMS.S AMS


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Nicolas Gaudois AMS.S http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63254|native|public|20090625045805 Thu, 25 Jun 2009 <![CDATA[UPM "Upgrade to Neutral after underperformance" (Neutral) Allsop]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63233|native|public Regions
  • Europe Including UK

  • Europe Ex. UK

  • Finland

  • Global

  • Nordic

  • UBSW EMEA


Sectors
  • European Paper Products

  • European Ex. UK Paper Products

  • Finnish Paper Products

  • Global Paper Products

  • European Basic Materials

  • European Forest Products & Paper

  • European Ex. UK Basic Materials

  • European Ex. UK Forest Products & Paper

  • Finnish Basic Materials

  • Finnish Forest Products & Paper

  • Global Basic Materials

  • Global Forest Products & Paper

  • European Basic Resources

  • European Ex. UK Basic Resources

  • Finnish Basic Resources

  • Global Basic Resources

  • Nordic Basic Resources

  • Nordic Basic Materials

  • Nordic Forest Products & Paper

  • Nordic Paper Products


Companies
  • UPM1V.HE UPM

  • STERV.HE Stora Enso


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Myles Allsop UPM1V.HE STERV.HE http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63233|native|public|20090625030214 Thu, 25 Jun 2009 <![CDATA[Anglogold "Potential '09 op. downgrade discounted" (Buy) Kendall]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=ueq01028|native|public Regions
  • Global

  • South Africa

  • EMEA Emerging

  • UBSW EMEA

  • Emerging Markets


Sectors
  • Global Precious Metals

  • South African Precious Metals

  • EMEA Emerging Precious Metals

  • EMEA Emerging Basic Materials

  • EMEA Emerging Mining & Metals

  • Global Basic Materials

  • Global Mining & Metals

  • South African Basic Materials

  • South African Mining & Metals

  • EMEA Emerging Basic Resources

  • Global Basic Resources

  • South African Basic Resources

  • Global Emerging Basic Resources

  • Global Emerging Basic Materials

  • Global Emerging Mining & Metals

  • Global Emerging Precious Metals


Companies
  • ANGJ.J Anglogold


Subjects
  • Change in Recommendation

  • Company Update

  • Morning Note

]]> Simon Kendall, CFA ANGJ.J http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=ueq01028|native|public|20090625030027 Thu, 25 Jun 2009