>>> Up
* Anglo American Raised to Overweight at Morgan Stanley
* BASF Upgraded to Outperform at MainFirst; PT 109 Euros
* Credit Suisse Upgraded to Buy at Natixis
* Elior Group Upgraded to Buy at Berenberg
* GTT Upgraded to Add at AlphaValue
* Heineken NV Upgraded to Buy at Jefferies; PT 100 Euros
* Just Eat Upgraded to Overweight at Barclays; PT 10 Pounds
* NH Hotel Upgraded to Buy at Berenberg
* Rezidor Upgraded to Buy at DNB Markets; Price Target 34 Kronor
* Royal Caribbean Upgraded to Buy at Berenberg
* Statoil Upgraded to Neutral at Macquarie
* STMicroelectronics Raised to Outperform at Credit Suisse
* Technotrans Upgraded to Hold at HSBC; Price Target 43 Euros
* William Hill Raised to Outperform at Credit Suisse
* Zeal Network Upgraded to Buy at Berenberg
>>> Down
* Air France-KLM Downgraded to Hold at HSBC; PT 14 Euros
* Aker BP Downgraded to Hold at DNB Markets; PT 210 Kroner
* CFE Downgraded to Sell at ABN Amro Bank; PT 120 Euros
* Entra Downgraded to Sell at DNB Markets; PT 117 Kroner
* FNAC Downgraded to Hold at HSBC; Price Target 100 Euros
* Kerry Group Downgraded to Hold at SocGen; PT 90 Euros
* Lundin Petroleum Cut to Market Perform at BMO; PT 180 Kronor
* Metro Bank Downgraded to Sell at Investec
* Mitchells & Butlers Downgraded to Reduce at Numis
* Paddy Power Downgraded to Neutral at Credit Suisse; PT 87 Pounds
* Paddy Power Downgraded to Sell at Berenberg
* Playtech Downgraded to Hold at Berenberg
* SAP Downgraded to Equal-weight at Morgan Stanley; PT 105 Euros
* Severstal GDRs Downgraded to Sell at Citi; PT $13.80
* Ted Baker Downgraded to Neutral at Goldman; PT 32.50 Pounds
* Tullow Downgraded to Market Perform at BMO
* Tullow Downgraded to Reduce at GMP
* Unibail-Rodamco Downgraded to Neutral at Natixis
* Weir Downgraded to Neutral at Credit Suisse; PT 22 Pounds
>>> Initiation
* Clariant Reinstated at Goldman With Buy
* Sage Rated New Buy at Shore Capital
>>> Call
>> Stock
* *CLARIANT ADDED TO CONVICTION LIST AT GOLDMAN
>> Sector
* Goldman Upgrades Utilities Sector After Recent Underperformance