>>> Up
* Cairn Energy Upgraded to Overweight at Morgan Stanley
* CYBG Upgraded to Buy at Jefferies
* Hostelworld Upgraded to Buy at Peel Hunt
* Lagardere Upgraded to Buy at HSBC; Price Target 28 Euros
* Poste Italiane Upgraded to Overweight at JPMorgan; PT 9 Euros
* Zalando Upgraded to Outperform at RBC
>>> Down
* Aveva Downgraded to Neutral at Citi
* Just Eat Downgraded to Sell at Deutsche Bank
* Virgin Money Downgraded to Hold at Jefferies
>>> Initiation
* CRH Reinstated at Goldman With Buy; PT 33 Euros
* HeidelbergCement Reinstated at Goldman With Buy; PT 101 Euros
* CRH, Heidelberg Initiated Buy, Returns Seen Improving: Goldman
>>> Call