>>> Up
* ERG Upgraded to Buy at Kepler Cheuvreux; Price Target 18 Euros
* Hannover Re Upgraded to Hold at Commerzbank; PT 130 Euros
* Kardex Upgraded to Buy at Bank Vontobel
* Veidekke Upgraded to Buy at SEB Equities; Price Target 97 Kroner
* Yara Upgraded to Hold at Kepler Cheuvreux; PT 353 Kroner
>>> Down
* BBVA Banco Frances ADRs Cut to Hold at AR Partners SA; PT $8
* Bechtle Downgraded to Hold at LBBW; PT 100.50 Euros
* Georgia Healthcare Cut to Hold at VTB Capital; PT 2.60 Pounds
* Hannover Re Downgraded to Sell at SocGen; PT 119 Euros
* Helvetia Downgraded to Reduce at AlphaValue
* Natixis Downgraded to Add at AlphaValue
>>> Initiation
* EDF Reinstated at Barclays With Equal-weight; PT 13 Euros
* EVN Rated New Equal-weight at Barclays; PT 14 Euros
* Formycon Rated New Buy at SRH AlsterResearch; PT 43 Euros
* Funding Circle Holdings Rated New Buy at HSBC; PT 3.10 Pounds
* Rotork Rated New Hold at Berenberg; PT 2.80 Pounds
* Spectris Rated New Hold at Berenberg; PT 24.40 Pounds
* Spirax Rated New Buy at Berenberg; PT 105.10 Pounds
>>> Call