>>> Up
* Aena Upgraded to Buy at Kepler Cheuvreux; PT 180 Euros
* Disney Upgraded to Outperform at BMO; PT $140
* FLSmidth Upgraded to Overweight at Morgan Stanley; PT 395 Kroner
* Gooch & Housego Raised to Hold at Stifel; Price Target 11 Pounds
* PulteGroup Upgraded to Neutral at JPMorgan; PT $25.50
>>> Down
* DNA Downgraded to Hold at SEB Equities; Price Target 21.50 Euros
* EON Downgraded to Underperform at MainFirst; PT 8.10 Euros
* Epiroc Cut to Equal-weight at Morgan Stanley; PT 103 Kronor
* Evotec SE Downgraded to Hold at Deutsche Bank
* FDM Group Downgraded to Hold at Stifel; Price Target 9.23 Pounds
* Glencore Downgraded by RBC on Thermal Coal Price Weakness
* Novartis Cut to Underweight at Morgan Stanley; PT 80 Francs
* Qinetiq Downgraded to Hold at Investec; PT 3.10 Pounds
* Ryanair Downgraded to Hold at Goodbody
* Siemens Gamesa Downgraded to Neutral at Redburn
* Valeo Downgraded to Sell at Citi
* Valora Downgraded to Sell at Baader Helvea; PT 242 Francs
>>> Initiation
* Alcon Rated New Neutral at JPMorgan; PT 55 Francs
* Alcon Rated New Overweight at Morgan Stanley
* Alcon Rated New Hold at Berenberg; PT 55 Francs
* Danone Rated New Overweight at Barclays; PT 82 Euros
* Dassault Systemes Reinstated at KeyBanc With Sector Weight
* Intervest Offices Rated New Hold at ING; PT 26 Euros
* Lindt & Spruengli Rated New Underweight at Barclays
* Nestle Rated New Overweight at Barclays; PT 106 Francs
* Nostrum Oil & Gas Resumed at Peel Hunt With Add; PT 1.40 Pounds
* Tencent ADRs Rated New Outperform at Oppenheimer; PT $55
* Thales Reinstated at Deutsche Bank With Hold; PT 116 Euros
* Unilever GDRs Rated New Underweight at Barclays; PT 46 Euros
* Viafin Service Rated New Accumulate at Inderes; PT 6.70 Euros
>>> Call
* Novartis Generic Pressures Not Priced In, MS Cuts to Underweight
* Valeo Margin Concern Prompts Downgrade, Michelin Stays Buy: Citi
* Large-Cap Food Fighting Back, ABF, Nestle in Top Picks: Barclays