>>> Up
* Cerved Upgraded to Buy at HSBC; Price Target 10 Euros
* Galenica Upgraded to Buy at Kepler Cheuvreux; PT 54 Francs
* Dufry Upgraded to Buy at Baader Helvea; Price Target 116 Francs
* GEA Group Upgraded to Overweight at Barclays; PT 28 Euros
* Raiffeisen Raised to Equal-weight at Morgan Stanley
* Voltabox Upgraded to Hold at Commerzbank; PT 17.35 Euros
>>> Down
* Bakkavor Downgraded to Sell at Berenberg
* Bakkafrost Downgraded to Sell at DNB Markets; PT 400 Kroner
* Britvic Downgraded to Neutral at Citi
* Cairn Energy Downgraded to Sector Perform at RBC; PT 2.25 Pounds
* Greencore Group Downgraded to Hold at Berenberg
* Grieg Seafood Downgraded to Sell at DNB Markets; PT 110 Kroner
* Leroy Downgraded to Sell at DNB Markets; PT 63 Kroner
* Mowi Downgraded to Sell at DNB Markets; PT 170 Kroner
* Norway Royal Salmon Cut to Sell at DNB Markets; PT 170 Kroner
* Salmar Downgraded to Hold at Berenberg
* Scottish Salmon Downgraded to Sell at DNB Markets; PT 16 Kroner
* Schaeffler Cut to Hold at Pareto Securities; PT 7.50 Euros
* Wirecard Downgraded to Sell at Citi; PT 100 Euros
>>> Initiation
* B&M European Reinstated Overweight at Barclays; PT 4.50 Pounds
>>> Call