>>> Up
* Alpiq Raised to Buy at Research Partners; Price Target 90 Francs
* BHP Upgraded to Hold at Global Mining Research Pty; PT 13 Pounds
* BHP Upgraded to Neutral at JPMorgan
* Cofinimmo Upgraded to Hold at ABN Amro Bank; PT 105 Euros
* Glencore Upgraded to Overweight at JPMorgan
* Indra Upgraded to Equal-weight at Morgan Stanley; PT 12 Euros
* Innogy Upgraded to Hold at Kepler Cheuvreux; PT 35 Euros
* Lonmin Upgraded to Market Perform at BMO
>>> Down
* Acacia Mining Cut to Underweight at JPMorgan; PT 1.70 Pounds
* BME Downgraded to Reduce at AlphaValue
* Boliden Downgraded to Underweight at JPMorgan; PT 225 Kronor
* MQ Downgraded to Hold at SEB Equities; PT 32 Kronor
* Norsk Hydro Downgraded to Neutral at JPMorgan
* Novo Nordisk Downgraded to Sell at DZ Bank; PT 295 Kroner
* Randgold ADRs Downgraded to Neutral at JPMorgan
* Rio Tinto Downgraded to Neutral at JPMorgan
* Temenos Cut to Underweight at Morgan Stanley; PT 112 Francs
>>> Initiation
* Devro Rated New Buy at Kepler Cheuvreux; PT 2.65 Pounds
* Ferrovial Rated New Outperform at Credit Suisse; PT 21.50 Euros
* FLEX LNG Reinstated at SEB Equities With Buy; PT 18 Kroner
* Hilton Food Rated New Hold at Berenberg; PT 8.50 Pounds
* VW Reinstated at Jyske Bank With Sell; PT 168 Euros
>>> Call