>>> Up
*Arkema Raised to Overweight at JPMorgan, PT EU110
*BASF Raised to Overweight at JPMorgan, PT EU105
*Clariant Raised to Neutral at JPMorgan, PT CHF18
*Coloplast Raised to Buy at HSBC, PT DKK555
*G4S Raised to Equal-Weight at Barclays
*HSBC Raised to Outperform at Exane, PT 750p
*Intertek Raised to Buy at Berenberg, PT 4000p
*Lundin Petroleum Raised to Hold at Nordea Securities, PT SEK200
*Pearson Raised to Hold at Deutsche Bank
*Philips Raised to Buy at ING, PT EU32
*Schaeffler Raised to Buy at Jefferies
*Severn Trent Raised to Neutral at Credit Suisse, PT 2190p
*Tenaris Raised to Neutral at JPMorgan, PT $35
*United Utilities Raised to Outperform at Credit Suisse
*Worldline SA/France Raised to Buy at Goldman, PT EU32
>>> Down
*Aurubis Cut to Sell at Goldman, PT EU50
*Autoliv Cut to Hold at Jefferies
*Big Yellow Group Cut to Hold at Jefferies, PT 740p
*Cairn Energy Cut to Sector Perform at RBC, PT 250p
*Derwent London Cut to Underperform at Jefferies, PT 2257p
*DNO Cut to Hold at Nordea Securities, PT NOK9.50
*Ericsson Cut to Sell at Goldman, PT SEK53
*Gemalto Cut to Sell at Goldman, PT EU52
*Great Portland Cut to Underperform at Jefferies, PT 563p
*Hammerson Cut to Underperform at Jefferies, PT 473p
*Iberdrola Cut to Hold at SocGen, PT EU6.10
*Ingenico Group Cut to Sell at Goldman, PT EU79
*J D Wetherspoon Cut to Sell at Canaccord, PT 850p
*Lagardere Cut to Hold at Kepler Cheuvreux
*Lanxess Cut to Hold at Bankhaus Lampe, PT EU68
*LondonMetric Property Cut to Hold at Jefferies, PT 160p
*msg life Cut to Sell at DZ Bank, PT EU2.40
*Pearson Cut to Neutral at Natixis, PT 575p
*Raiffeisen Cut to Sell at Berenberg, PT EU13
*Rightmove Cut to Sell at Citi, PT 3770p
*Saeta Yield Cut to Hold at SocGen, PT EU8.50
*Software AG Cut to Sell at Goldman, PT EU33
*Stabilus Cut to Hold at Kepler Cheuvreux
*STMicroelectronics Cut to Hold at Baader-Helvea, PT EU11
*ThyssenKrupp Cut to Equal-Weight at Morgan Stanley, PT EU24
*Tullow Cut to Hold at HSBC, PT GBP3.20
*Vivendi Cut to Sell at Citi
*WORKSPACE Cut to Underperform at Jefferies, PT 600p
>>> PT Change
>>> Initiation
*Abertis Rated New Outperform at Raymond James, PT EU15.10
*Eiffage Rated New Buy at Kempen & Co, PT EU75
*Greencore Group Resumed Buy at Jefferies, PT 300p
*Smith & Nephew Rated New Hold at HSBC, PT GBP13.20
*Vinci Rated New Buy at Kempen & Co, PT EU78
>>> Call
>> Stock
*SAGE REMOVED FROM CONVICTION BUY LIST AT GOLDMAN; STILL BUY
*SAP ADDED TO CONVICTION BUY LIST AT GOLDMAN