>>> Up
* Aryzta Upgraded to Buy at Baader Helvea; PT 1.60 Francs
* Erste Upgraded to Overweight at Morgan Stanley; PT 40 Euros
* Kloeckner Upgraded to Hold at Bankhaus Lampe
* Quilter Upgraded to Overweight at JPMorgan; PT 1.80 Pounds
* TUI Upgraded to Overweight at Morgan Stanley; PT 12.50 Pounds
* Ultra Electronics Upgraded to Buy at Berenberg
>>> Down
* Adidas Cut to Hold at Baader Helvea; Price Target 220 Euros
* Eurofins Scientific Downgraded to Reduce at HSBC; PT 347 Euros
* Schindler Downgraded to Hold at SocGen; PT 230 Francs
* Systemair Downgraded to Hold at Kepler Cheuvreux; PT 108 Kronor
>>> Initiation
* Cellectis ADRs Rated New Outperform at William Blair
* Bushveld Minerals Rated New Outperform at Macquarie; PT 47 Pence
* Energean Oil & Gas Rated New Buy at Peel Hunt; PT 8.50 Pounds
* Generix Group SADIR Rated New Buy at IDMidcaps; PT 5 Euros
* Mensch und Maschine Reinstated at Edison With Corporate
* On The Beach Rated New Buy at Citi; PT 5.10 Pounds
>>> Call