>>> Up
* Aareal Bank Raised to Buy at Nord/LB, PT EU39.50
* Axalta Raised to Overweight at JPMorgan, PT $31
* BlueJay Mining Raised to Strong Buy at SP Angel, PT 24p
* Henkel Raised to Buy at DZ Bank, PT EU128
* Lufthansa Raised to Hold at Commerzbank, PT EU21
* RBS Raised to Hold at HSBC, PT GBP2.50
* SAF Holland Raised to Buy at Montega, PT EU18
* Vernalis Raised to Buy at Panmure Gordon & Co, PT 31p
* Voestalpine Raised to Add at AlphaValue
>>> Down
* Deutsche Bank Cut to Reduce at HSBC, PT EU14
* Dixons Carphone Cut to Underperform at Exane
* DONG Energy Cut to Reduce at Kepler Cheuvreux, PT DKK305
* FCC Cut to Sell at AlphaValue
* Genel Energy Cut to Reduce at GMP, PT GBP1.20
* Goldman Sachs Cut to Hold at HSBC, PT $238
* Henkel Cut to Sector Perform at RBC, PT EU116
* Koenig & Bauer Cut to Hold at Bankhaus Lampe
* OHB Cut to Hold at HSBC, PT EU32
* Shire Cut to Equal-weight at Barclays
* Tullow Cut to Reduce at GMP, PT GBP1.60
>>> Initiation
* BAT Reinstated Neutral at Goldman
* Prosegur Reinstated Buy at Goldman, PT EU6.60
* Unicaja Banco New Neutral at Citi, PT EU1.40