>>> Up
* Ackermans Upgraded to Buy at Kepler Cheuvreux; PT 160 Euros
* BIC Upgraded to Neutral at MainFirst; Price Target 76 Euros
* Brenntag Upgraded to Buy at Berenberg
* D'Ieteren Upgraded to Buy at Kepler Cheuvreux; PT 50 Euros
* EDP Renovaveis Upgraded to Buy at SocGen; PT 10 Euros
* Intertrust Upgraded to Overweight at JPMorgan; PT 19 Euros
* Qualcomm Upgraded to Overweight at JPMorgan; PT $88
* Sampo Upgraded to Overweight at JPMorgan; PT 48 Euros
* Tele Columbus Upgraded to Overweight at Barclays; PT 2.70 Euros
>>> Down
* Caverion Downgraded to Reduce at Inderes; PT 6.10 Euros
* GTT Downgraded to Hold at SocGen; Price Target 95 Euros
* IMCD Downgraded to Hold at Berenberg
* Nixu Downgraded to Reduce at Inderes; PT 12 Euros
* Rio Tinto Downgraded to Hold at Investec; PT 48.01 Pounds
* Univar Downgraded to Hold at Berenberg
* Valmet Downgraded to Sell at Berenberg
>>> Initiation
* AJ Bell Rated New Neutral at Macquarie; PT 3.45 Pounds
* Alcon Rated New Buy at Goldman; PT 65 Francs
* Altice Europe Resumed at Citi With Neutral
* Burberry Rated New Underperform at Bernstein; PT 17.25 Pounds
* EssilorLuxottica Rated New Outperform at Bernstein; PT 120 Euros
* Richemont Rated New Outperform at Bernstein; PT 88 Francs
* Saint-Gobain Rated New Neutral at Citi; PT 38 Euros
* SSE Resumed at Morgan Stanley With Equal-weight
* Suez Reinstated at Barclays With Equal-weight; PT 12.50 Euros
* Veolia Reinstated at Barclays With Overweight; PT 23.50 Euros
>>> Call
* Opportunities in Chemicals Distribution, Buy Brenntag: Berenberg