>>> Up
*ACCOR RAISED TO HOLD VS REDUCE AT KEPLER CHEUVREUX
*BAER RAISED TO NEUTRAL AT HSBC
*BUREAU VERITAS RAISED FROM EQUALWEIGHT AT MORGAN STANLEY
*LADBROKES RAISED TO BUY VS NEUTRAL AT UBS
*MEDA RAISED TO BUY VS HOLD AT SEB
*NORILSK NICKEL RAISED TO BUY VS NEUTRAL AT CITI
*PETROFAC RAISED TO BUY VS HOLD AT BERENBERG
*ROLLS-ROYCE RAISED TO HOLD VS SELL AT SOCGEN
*TECHNICOLOR RAISED TO OVERWEIGHT VS EQUALWEIGHT:MORGAN STANLEY
>>> Down
*BNP CUT TO NEUTRAL VS BUY AT UBS
*DSM CUT TO HOLD VS BUY AT BERENBERG
*IMERYS CUT TO NEUTRAL VS OUTPERFORM AT EXANE
*KBC CUT TO HOLD VS BUY AT BERENBERG
*MORRISON CUT TO UNDERPERFORM VS NEUTRAL AT EXANE
*MUNICH RE CUT TO SELL VS HOLD AT SOCGEN
*NET ENTERTAINMENT CUT TO SELL VS HOLD AT NORDEA
*NLMK CUT TO SELL VS NEUTRAL AT CITI
*ODFJELL SE CUT TO BUY VS STRONG BUY AT NORDEA
*UBM CUT TO NEUTRAL VS OUTPERFORM AT CREDIT SUISSE
>>> PT Change
*Banco Popolare PT Raised to EU1.5 at BofAML; Kept at Neutral
*ENI PT CUT 13% TO EU17.4 AT MACQUARIE; KEPT AT NEUTRAL
*INTESA PT RAISED TO EU2.4 VS EU2.3 AT BOFAML; KEPT AT BUY
Zurich Insurance PT Cut to CHF266 from CHF268 at Mediobanca
>>> Initiation
>>> Call
>> Stock
*CEMBRA, EVOLVA ADDED TO CREDIT SUISSE’S SMID FOCUS LIST
*MONDI ADDED TO BOFAML’S EUROPE 1 LIST