>>> Up
* Apple Raised to Hold at HSBC; PT $295
* Cofinimmo Raised to Buy at Berenberg; PT 145 euros
* Lancashire Raised to Overweight at Barclays; PT 900 pence
* Sanofi Raised to Buy at Intron Health; PT 120 euros
* Tele2 Raised to Buy at Berenberg; PT 136 kronor
* Terveystalo Raised to Accumulate at Inderes; PT 9.20 euros (+)
>>> Down
* Alfa Laval Cut to Underweight at Barclays; PT 170 kronor
* Dustin Cut to Hold at SEB Equities; PT 62 kronor
* Erste Cut to Neutral at BofA; PT 23.30 euros (+)
* Fiat Chrysler Cut to Accumulate at Banca Akros (ESN) (+)
* GAM Holding Cut to Hold at MainFirst; PT 2.50 Swiss francs
* Grubhub Cut to Equal-Weight at Barclays; PT $65
* IAG Cut to Market Perform at BBVA; PT 335.48 pence
* NH Hotel Cut to Underperform at BBVA; PT 3.08 euros (+)
* Rotork Cut to Add at Peel Hunt; PT 300 pence
* Senior Cut to Hold at Peel Hunt; PT 90 pence
* Synthomer Cut to Hold at Peel Hunt; PT 325 pence
* Telecom Italia Cut to Neutral at JPMorgan; PT 41 euro cents
>>> Initiation
* Azimut Rated New Hold at Berenberg; PT 16.80 euros
* Selvaag Bolig Rated New Buy at Handelsbanken; PT 60 kroner
* TKWY NA Reinstated Overweight at Morgan Stanley
>>> Call
* ABB’s Focus on Bolt-On Deals, Not Major M&A, Is Welcome: RBC
* Alfa Laval Has Among Strongest Headwinds in Sector: Barclays (+)
* Babcock Sees Loss on Aviation Writedown, Delays Final Dividend (+)
* Direct Line Could Resume Dividends at Interim Results, MS Says
* Erste Downgraded at Bank of America on Valuation Grounds (+)
* European Insurance Has Catalysts for Recovery, Barclays Says
* GAM Downgraded at Mainfirst Following Recent Share-Price Gains (+)
* Ocado’s Capital Raising Is a Positive Move, Berenberg Says (+)
* Sanofi’s Potential for ‘Soaring Margins’ Underestimated: Intron
* Senior, Synthomer, Rotork Cut at Peel Hunt After Recent Rally
* Stock Picking Crucial to Find Value in U.K. Property: Berenberg
* Swedbank and Danske Bank Preferred Among Nordic Banks at Citi (+)
* CMC Markets Starts Year on Right Foot, RBC Says; Watch Peers (+)