>>> Up
* Adecco Raised to Hold at Deutsche Bank; PT 43 Swiss francs
* Axa Raised to Buy at Berenberg
* Bakkavor Raised to Buy at HSBC; PT 120.30 pence
* Clinigen Raised to Buy at Liberum; PT 780 pence
* Derwent London Raised to Add at Peel Hunt
* Enagas Raised to Buy at SocGen; PT 24.50 euros
* E.On Raised to Buy at SocGen; PT 11.20 euros
* Eurofins Scientific Raised to Equal-Weight at Morgan Stanley
* Ferrari Raised to Buy at HSBC; PT $181.30
* Hamburger Hafen Raised to Buy at MainFirst; PT 22 euros
* Hella Raised to Neutral at Oddo BHF; PT 31 euros
* Iberdrola Raised to Buy at HSBC; PT 11.50 euros
* InterContinental Hotels Raised to Sector Perform at RBC
* Lenzing Raised to Hold at Berenberg; PT 55 euros
* Mail.ru Group GDRs Raised to Neutral at JPMorgan; PT $21
* Polymetal Raised to Overweight at JPMorgan; PT 1,500 pence
* Randstad Raised to Hold at Deutsche Bank; PT 36 euros
* Sanofi Raised to Buy at Goldman; PT 104 euros
* Software AG Raised to Overweight at Morgan Stanley; PT 30 euros
* Unite Group Raised to Overweight at Morgan Stanley
* Unum Raised to Neutral at Credit Suisse; PT $18
>>> Down
* ACS Cut to Hold at Grupo Santander; PT 25.50 euros
* Capita Cut to Sector Perform at RBC; PT 60 pence
* DNO Cut to Neutral at SpareBank; PT 8 kroner
* Genel Cut to Neutral at SpareBank; PT 160 pence
* Glencore Cut to Sector Perform at RBC
* Gulf Keystone Petroleum Cut to Neutral at SpareBank
* IMI PT Cut to Street-Low, Risks Skewed to Downside: Berenberg
* Intl Petroleum Cut to Neutral at SpareBank; PT 35 kronor
* Maha Cut to Neutral at SpareBank; PT 20 kronor
* OKEA Cut to Neutral at SpareBank; PT 17 kroner
* Panoro Energy Cut to Neutral at SpareBank; PT 17 kroner
* Tethys Oil Cut to Neutral at SpareBank; PT 65 kronor
>>> Initiation
* Carmat Rated New Buy at Oddo BHF; PT 27 euros
>>> Call
* Glencore Cut at RBC on View Caution Warranted Amid Volatility
* Software Sector Can Outperform in Volatile Times: Morgan Stanley