>>> Up
* AB InBev Upgraded to Buy at Bank Degroof Petercam; PT 80 Euros
* Aker BP Upgraded to Equal-weight at Barclays; PT 295 Kroner
* BASF Upgraded to Overweight at JPMorgan; PT Set to 74 Euros
* BBA Aviation Upgraded to Buy at Jefferies; PT 2.90 Pounds
* Constellation Brands Upgraded to Neutral at Guggenheim
* Cranswick Upgraded to Buy at Liberum
* Eutelsat Raised to Overweight at Morgan Stanley; PT 21.50 Euros
* Evonik Upgraded to Neutral at JPMorgan; Price Target 24.50 Euros
* Hypoport Upgraded to Buy at Berenberg
* Intl Petroleum Raised to Equal-weight at Barclays; PT 40 Kronor
* Lanxess Upgraded to Overweight at JPMorgan; PT Set to 55 Euros
>>> Down
* Air Liquide Cut to Underweight at JPMorgan; PT 100.50 Euros
* Burberry Downgraded to Hold at Berenberg
* Clariant Cut to Underweight at JPMorgan; PT Set to 19 Francs
* EnQuest Downgraded to Underweight at Barclays; PT 16 Pence
* Gym Group Downgraded to Equal-weight at Barclays; PT 2.65 Pounds
* Polymetal Cut to Hold at Renaissance Capital; PT 8.60 Pounds
* Safran Downgraded to Neutral at JPMorgan; PT 115 Euros
* Swedbank Upgraded to Buy at Deutsche Bank
* Ted Baker Downgraded to Neutral at Goldman; PT 21.50 Pounds
* Tod's Downgraded to Sell at Berenberg
* Tullow Downgraded to Equal-weight at Barclays; PT 2.25 Pounds
* UBS Downgraded to Hold at SocGen; PT 13 Francs
* Umicore Downgraded to Neutral at JPMorgan; PT Set to 44 Euros
* Wacker Chemie Downgraded to Underweight at JPMorgan; PT 78 Euros
>>> Initiation
* Aker BP Rated New Buy at Kepler Cheuvreux; PT 275 Kroner
* Avast Rated New Neutral at JPMorgan; PT 3.10 Pounds
* Ceva Logistics Rated New Underperform at MainFirst; PT 25 Francs
* CRH Rated New Outperform at MainFirst; PT 30 Euros
* DNO Rated New Buy at Kepler Cheuvreux; PT 21 Kroner
* Genmab Rated New Buy at DNB Markets; PT 1,540 Kroner
* HeidelbergCement Rated New Neutral at MainFirst; PT 61 Euros
* LafargeHolcim Rated New Neutral at MainFirst; PT 45 Francs
* Lundin Petroleum Rated New Buy at Kepler Cheuvreux
* Saint-Gobain Rated New Outperform at MainFirst; PT 36.50 Euros
* SSE Reinstated at Credit Suisse With Outperform; PT 12.25 Pounds
>>> Call