>>> Up
* Adecco Raised to Overweight at JPMorgan; PT 58 Swiss francs
* Gem Diamonds Raised to Overweight at Barclays (+)
* H&M Raised to Add at AlphaValue
* Huhtamaki Raised to Accumulate at OP Corporate Bank
* Kingspan Raised to Buy at SocGen; PT 90 euros
* Merck KGaA Raised to Equal-Weight at Barclays; PT 125 euros (+)
* Naked Wines PLC Raised to Buy at Peel Hunt; PT 535 pence
* Norsk Hydro Raised to Equal-Weight at Barclays; PT 30 kroner (+)
* Pets at Home PT Raised to 460 pence from 355 pence at Citi
* Rockwool Raised to Hold at SocGen; PT 2,700 kroner
* Schindler Raised to Sector Perform at RBC; PT 245 Swiss francs
* Subsea 7 Raised to Buy at Jefferies; PT 90 kroner
* TalkTalk Raised to Hold at Berenberg; PT 97 pence
* TechnipFMC Raised to Hold at Jefferies; PT $7
* Wendel SE Raised to Buy at SocGen; PT 97 euros (+)
* Worldline PT Raised to 110 euros from 92 euros at Jefferies
>>> Down
* Airbus Cut to Underweight from Neutral by JPMorgan Cazenove
* Autogrill Cut to Sell at Citi; PT 2.50 euros
* Bayer Cut to Equal-Weight at Barclays; PT 50 euros (+)
* Danone Cut to Underperform at Bernstein; PT 53 euros
* Fagron Cut to Hold at KBC Securities; PT 21.50 euros (+)
* Husqvarna Cut to Hold at Danske Bank Markets; PT 105 kronor (+)
* Petrofac Cut to Neutral at Exane; PT 135 pence
* Scandic Cut to Underweight at Morgan Stanley; PT 21 kronor
* Simcorp Cut to Sell at SEB Equities; PT 775 kroner
* Simcorp Cut to Sell at Danske Bank Markets; PT 752 kroner (+)
>>> Initiation
* Beiersdorf Rated New Outperform at Bernstein; PT 120 euros
* BMW Cut to Hold at Commerzbank; PT 68 euros
* Greatland Gold Rated New Hold at Berenberg; PT 22 pence
* Henkel Rated New Underperform at Bernstein
* Intervacc Rated New Buy at Danske Bank Markets; PT 80 kronor (+)
* Lindt & Spruengli Rated New Outperform at Bernstein
* L'Oreal Rated New Outperform at Bernstein; PT 340 euros
* Nestle Rated New Outperform at Bernstein; PT 120 Swiss francs
* SBM Offshore Rated New Outperform at Exane; PT 20 euros
* S4 Capital Rated New Buy at Pivotal; PT 500 pence
* Unilever Rated New Underperform at Bernstein
* Orkla Rated New Market Perform at Bernstein; PT 90 kroner
>>> Call
* Autogrill ‘Stuck in a Rut,’ With Earnings Risk to Downside: Citi
* Barclays Positive on Miners; Upgrades Norsk Hydro, Gem Diamonds
* BMW Positive Upside Limited, Margins Near Peak, Commerzbank Says
* Ceconomy’s Earnings Guidance Is Positive, Baader Says (+)
* European HPC, Food Stocks a ‘Quality Safe Haven,’ Bernstein Says (+)
* Heineken Is Focusing on Costs, Consensus Conservative: Bernstein (+)
* Naked Wines Upgraded on U.K. Strength, U.S. Potential: Peel Hunt
* Scandic Downgraded, Morgan Stanley Sees Liquidity Shortfall Risk
* Schindler Upgraded at RBC as Valuation Back in Line With History
* Subsea 7 Upgraded at Jefferies on Wind, O&G Offshore Advantage
* Wizz Air to Rank as Lowest-Cost Carrier on A321neo: Bernstein (+)