>>> Up
* AMS Upgraded to Overweight at JPMorgan; PT 115 Francs
* Ashmore Upgraded to Neutral at JPMorgan; PT 3.95 Pounds
* Falck Renewables Raised to Buy at Kepler Cheuvreux
* NEX Group Upgraded to Overweight at JPMorgan; PT 6.65 Pounds
* Prima Industrie Raised to Outperform at MedioBanca; PT 39 Euros
* Safilo Upgraded to Neutral at MedioBanca; PT 4.75 Euros
* Tele2 Upgraded to Buy at Berenberg
* ThyssenKrupp Upgraded to Hold at Kepler Cheuvreux; PT 23 Euros
* Unibail-Rodamco Raised to Buy at Bank Degroof Petercam
>>> Down
* Berkeley Downgraded to Hold at Jefferies; PT 42.14 Pounds
* Britvic Downgraded to Sell at Shore Capital
* Brunello Cucinelli Downgraded to Underperform at Exane
* Colruyt Downgraded to Reduce at Kepler Cheuvreux; PT 39 Euros
* Dialog Semi Downgraded to Neutral at JPMorgan; PT 23 Euros
* Julius Baer Cut to Neutral at Goldman; Price Target 64.50 Francs
* Kinepolis Downgraded to Hold at Berenberg
* Ladbrokes Coral Downgraded to Neutral at Goldman
* Sports Direct Cut to Underperform at Jefferies; PT 2.90 Pounds
* Telenor Downgraded to Hold at Berenberg
* Telenor Cut to Equal-weight at Morgan Stanley; PT 195 Kroner
* VAT Downgraded to Neutral at JPMorgan; Price Target 150 Francs
>>> Initiation
* BAWAG Group Rated New Buy at Commerzbank; PT 54 Euros
* Beazley Rated New Hold at Berenberg; PT 5 Pounds
* Befesa Rated New Buy at Berenberg; PT 43.40 Euros
* Befesa Rated New Overweight at JPMorgan; PT 40.19 Euros
* Befesa Rated New Buy at Stifel; PT 40 Euros
* dormakaba Reinstated at Baader-Helvea With Hold; PT 1,000 Francs
* Hiscox Rated New Buy at Berenberg; PT 15.80 Pounds
* Lancashire Rated New Sell at Berenberg; PT 6 Pounds
* Micro Focus Reinstated at Goldman With Neutral; PT 26 Pounds
* Spectris Reinstated at Goldman With Buy; PT 29 Pounds
* Sports Direct Re-Rating at Odds With Fundamentals: Jefferies
* TI Fluid Systems Rated New Neutral at JPMorgan; PT 3 Pounds
>>> Call