STOCKS NEWS EUROPE-Grifols climbs on UBS upgrade

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10:18GMT 21Nov2008-Grifols climbs on UBS upgrade

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Shares in Spanish blood plasma company Grifols (GRLS.MC) gain almost 6 percent to 12.78 euros, outpacing Spain's blue chip IBEX-35 index .IBEX, after an UBS upgrade to "buy" from "neutral", citing potential upside.

"(The stock's recent) correction seems partially justified given uncertainty on potential excess plasma collection leading to oversupply ... but we see high structural demand for human plasma and pricing power," UBS says in a note.

UBS sets a 15 euro price target, down from 20.5 euros previously.

Reuters Messaging rm://tracy.rucinski.reuters.com@reuters.net

10:13GMT 21Nov2008-Woolworths slides; Altium cuts to "sell"  Continued...