>>> Up
*ACTELION RAISED TO BUY VS HOLD AT DEUTSCHE BANK
*BANCO POPULAR RAISED TO OVERWEIGHT AT BARCLAYS
*BANCO SABADELL RAISED TO OVERWEIGHTT AT BARCLAYS
*DEUTSCHE ANNINGTON RAISED TO OVERWEIGHT AT HSBC
*DEUTSCHE WOHNEN RAISED TO NEUTRAL AT HSBC
*ERAMET RAISED TO BUY VS HOLD AT SOCGEN
*FINNAIR RAISED TO BUY VS HOLD AT NORDEA
*GENERALI RAISED TO EQUALWEIGHT VS UNDERWEIGHT AT MORGAN STANLEY
*RHEINMETALL RAISED TO BUY VS HOLD AT BERENBERG
*UNICREDIT RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
>>> Down
*BBVA CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*EURASIA DRILLING CUT TO NEUTRAL VS BUY AT UBS
*INTL PERSONAL FIN CUT TO SECTOR PERFORM AT RBC CAPITAL
*SECHE ENVIRONNEMENT CUT TO NEUTRAL VS BUY AT ODDO
*SUBSEA 7 CUT TO HOLD VS BUY AT BERENBERG
>>> PT Change
*Actelion PT Raised to SF130 vs SF100 at Jefferies
>>> Initiation
*AIRBUS GROUP RATED NEW BUY AT BERENBERG; PT EU60.5
*BAE SYSTEMS RATED NEW HOLD AT BERENBERG; PT 445P
*COBHAM RATED NEW HOLD AT BERENBERG; PT 325P
*GKN RATED NEW BUY AT BERENBERG; PT 440P
*MEGGITT RATED NEW BUY AT BERENBERG; PT 600P
*QINETIQ RATED NEW HOLD AT BERENBERG; PT 225P
*ROLLS-ROYCE RATED NEW BUY AT BERENBERG; PT 1,216P
*SAFRAN RATED NEW BUY AT BERENBERG; PT EU62.5
*TELEFONICA DEUTSCHLAND RATED NEW BUY AT SANTANDER, PT EU7
*ULTRA ELECTRONICS RATED NEW HOLD AT BERENBERG; PT 1,970P
>>> Call
>> Stock
*SWISSCOM REMOVED FROM UBS’S MOST PREFERRED LIST
*TELEFONICA DEUTSCHLAND ADDED TO UBS’S MOST PREFERRED LIST