>>> Up
* Capital & Regional Upgraded to Hold at Peel Hunt
* Hammerson Upgraded to Add at Peel Hunt
* JPJ Group Upgraded to Buy at Peel Hunt
* Maersk Upgraded to Buy at Handelsbanken; PT 8,500 Kroner
* Shaftesbury Upgraded to Hold at Peel Hunt
* Schibsted Upgraded to Buy at SEB Equities; PT 267 Kroner
>>> Down
* Axel Springer Cut to Hold at Kepler Cheuvreux; PT 63 Euros
* BAT Downgraded to Underweight at Morgan Stanley; PT 26 Pounds
* Chr. Hansen Downgraded to Sell at Handelsbanken; PT 675 Kroner
* Continental Downgraded to Underweight at JPMorgan; PT 119 Euros
* Eurobank Downgraded to Hold at HSBC; PT 94 Cents
* Glaxo Resumed Underweight at Morgan Stanley; PT 15.20 Pounds
* Helical Downgraded to Add at Peel Hunt
* National Bank of Greece Cut to Hold at HSBC; PT 2.80 Euros
* Piraeus Bank Downgraded to Hold at HSBC; PT 3 Euros
* Primary Health Downgraded to Add at Peel Hunt
* Yara Downgraded to Neutral at JPMorgan; Price Target 400 Kroner
>>> Initiation
* Centrica Rated New Underperform at Macquarie; PT 70 Pence
* DBV Tech Rated New Buy at Goldman; PT 25 Euros
* Drax Rated New Neutral at Macquarie; PT 2.80 Pounds
* EDF Rated New Neutral at Macquarie; PT 12 Euros
* Engie Rated New Neutral at Macquarie; PT 13 Euros
* EON Rated New Neutral at Macquarie; PT 9.70 Euros
* EVN Rated New Outperform at Macquarie; PT 17 Euros
* Fortum Rated New Neutral at Macquarie; PT 18 Euros
* Futura Medical Rated New Buy at Liberum; PT 60 Pence
* Glaxo Resumed Underweight at Morgan Stanley; PT 15.20 Pounds
* National Grid Rated New Outperform at Macquarie; PT 9.30 Pounds
* Pennon Rated New Outperform at Macquarie; PT 8.70 Pounds
* RWE Rated New Outperform at Macquarie; PT 30 Euros
* Severn Trent Rated New Outperform at Macquarie; PT 23 Pounds
* SSE Rated New Neutral at Macquarie; PT 11.40 Pounds
* Suez Rated New Neutral at Macquarie; PT 12.60 Euros
* Uniper Rated New Neutral at Macquarie; PT 26 Euros
* United Utilities Rated New Outperform at Macquarie
* Veolia Rated New Neutral at Macquarie; PT 22 Euros
* Verbund Rated New Outperform at Macquarie; PT 52 Euros
>>> Call
* Sell Glaxo as Shingles Step-Up on Hold, HIV Pressured: MS
* Time to Sell Saab Shares, DI Tells Its Readers
* UniCredit Still Offers Much More Upside Than Intesa, RBC Says