>>> Up
*ACTELION RAISED TO BUY VS HOLD AT BERENBERG
*BRUNEL RAISED TO BUY VS HOLD AT ING
*LEGRAND RAISED TO BUY AT JEFFERIES
*SOFTWARE AG RAISED TO HOLD VS SELL AT BERENBERG
>>> Down
*ATRESMEDIA CUT TO NEUTRAL VS BUY AT GOLDMAN
*IAG CUT TO SELL VS HOLD AT CANTOR
*LAFARGE CUT TO UNDERPERFORM AT SANFORD BERNSTEIN
*NATIONAL EXPRESS CUT TO HOLD VS BUY AT LIBERUM
*NUMERICABLE CUT TO NEUTRAL VS BUY AT GOLDMAN
*RSA CUT TO MARKETPERFORM VS OUTPERFORM AT BERNSTEIN
*SYNTHOMER CUT TO NEUTRAL VS BUY AT UBS
*VIVENDI CUT TO UNDERPERFORM AT JEFFERIES
>>> PT change
>>> Initiation
*AB FOODS REINITIATED BUY AT INVESTEC, PT 3,650P
*AB INBEV RATED NEW HOLD AT INVESTEC, PT EU119.95
*SURTECO RATED NEW BUY AT HAUCK & AUFHAEUSER
*CARLSBERG RATED NEW HOLD AT INVESTEC, PT DK570
>>> Call
>> Stock
*ROCKET INTERNET EXITS GOLDMAN CONVICTION BUY LIST, STAYS BUY
*SCHIBSTED EXITS GOLDMAN CONVICTION BUY LIST, STAYS BUY