>>> Up
* Aveva Upgraded to Overweight at JPMorgan; PT 32 Pounds
* Centrica Upgraded to Buy at Kepler Cheuvreux; PT 1.90 Pounds
* FirstGroup Upgraded to Sector Perform at RBC; PT 1.10 Pounds
* Deutsche Euroshop Upgraded to Buy at Natixis
* Marshalls Upgraded to Buy at Berenberg
* Outokumpu Upgraded to Hold at DNB Markets; PT 7.70 Euros
* Rank Group Upgraded to Buy at Peel Hunt
>>> Down
* Flughafen Wien Downgraded to Hold at HSBC; PT 34 Euros
* Hamburger Hafen Cut to Reduce at Kepler Cheuvreux; PT 24 Euros
* Rockwool Downgraded to Hold at SEB Equities; PT 1,700 Kroner
* TalkTalk Downgraded to Sector Perform at RBC; PT 1.90 Pounds
* Tecnicas Reunidas Cut to Neutral at Goldman; PT 26.80 Euros
>>> Initiation
* AO World Initiated at Peel Hunt With Buy
* Bayer Assumed at Bernstein With Outperform; PT 131 Euros
* Genmab Initiated at Bernstein With Outperform; PT 1,450 Kroner
* Lundbeck Initiated at Bernstein With Underperform; PT 300 Kroner
* Merck KGaA Raised to Outperform at Bernstein; PT 115 Euros
* Novo Nordisk Assumed Market Perform at Bernstein; PT 320 Kroner
* Shire ADRs Assumed at Bernstein With Market Perform; PT $180
* Vantiv Initiated at Berenberg With Buy; PT $85
>>> Call