>>> Up
* AFRY AB Raised to Buy at Handelsbanken
* Altice USA Raised to Buy at Citi; PT $8
* Informa Raised to Buy at Goldman; PT 775 pence
* Mondi Raised to Overweight at Morgan Stanley; PT 1,800 pence
* Playtech Raised to Buy at Numis; PT 770 pence
* Smurfit Kappa Raised to Overweight at Morgan Stanley
* Stora Enso Raised to Equal-Weight at Morgan Stanley
* Tenaris ADRs Raised to Buy at Stifel; PT $38
* Zurich Airport Raised to Buy at Bank Vontobel
>>> Down
* Aroundtown Cut to Neutral at Citi; PT 2.33 euros
* DS Smith Cut to Equal-Weight at Morgan Stanley; PT 340 pence
* GEA Group Cut to Reduce at AlphaValue/Baader
* Netcompany Cut to Neutral at Citi; PT 280 kroner
* Philips Cut to Neutral at Oddo BHF; PT 17 euros
* PostNL Cut to Hold at ING; PT 1.85 euros
* Sweco Cut to Sell at Handelsbanken
* Telenet Cut to Neutral at Oddo BHF; PT 17 euros
* TUI PT Cut to 100 pence from 180 pence at Berenberg
* UPM-Kymmene Cut to Underweight at Morgan Stanley; PT 24 euros
>>> Initiation
* Lululemon Rated New Strong Buy at Raymond James
* Nike Rated New Outperform at Raymond James
* Orion Cut to Hold at Nordea
* PureTech Health ADRs Reinstated Buy at Jefferies; PT $55.50
* Ricardo Rated New Buy at Shore Capital
* Sage Rated New Buy at HSBC; PT 845 pence
* Simon Property Reinstated Overweight at Morgan Stanley; PT $131
* Under Armour Rated New Market Perform at Raymond James
* Unite Group Rated New Outperform at RBC; PT 1,025 pence
>>> Call
* Aroundtown Cut to Neutral as Citi Prepares ‘For the Worst’
* Capgemini, SAP Top IT & Software Picks, Netcompany Cut at Citi
* MS Sees Good Risk/Reward in Paper Stocks, Smurfit Now Top Pick
* Unite Group New Outperform at RBC, Sees Resilience in Downturn