>>> Up
* Adecco Upgraded to Buy at BofAML
* Eutelsat Upgraded to Buy at Berenberg
* Randstad Upgraded to Buy at BofAML
* Tessi Upgraded to Hold at Kepler Cheuvreux; PT 133 Euros
>>> Down
* Costain Downgraded to Hold at Stifel; PT 3.55 Pounds
* ERG Downgraded to Add at AlphaValue
* First Quantum Minerals Downgraded to Underperform at Macquarie
* Johnson Matthey Cut to Sell at Investec; Price Target 30 Pounds
* Lonza Downgraded to Neutral at MainFirst; PT 320 Francs
* Micro Focus Downgraded to Equal-weight at Barclays; PT 20 Pounds
* Topdanmark Downgraded to Sell at SEB Equities; PT 310 Kroner
>>> Initiation
* Adevinta Rated New Hold at Deutsche Bank
* *ALCON RATED SELL AT SOCGEN BASED ON REVISED DCF VALUATION
* Ashmore Reinstated at Barclays With Equal-weight; PT 4.65 Pounds
* BAE Rated New Neutral at MainFirst; PT 5 Pounds
* Intermediate Capital Rated New Overweight at Barclays
* Jupiter Reinstated at Barclays With Underweight; PT 3.30 Pounds
* Man Group Reinstated at Barclays With Overweight; PT 1.65 Pounds
* Schroders Reinstated Overweight at Barclays; PT 31.55 Pounds
* Thales Rated New Neutral at MainFirst; PT 105 Euros
>>> Call
* *VODAFONE ADDED AS SHORT-TERM CATALYST BUY AT DEUTSCHE BANK