>>> Up
* BH Macro Raised to Buy at Stifel (+)
* Freenet Raised to Neutral at Redburn (+)
* Heidelberg Materials AG Raised to Buy at Redburn (+)
* IDOX PLC Raised to Buy at Canaccord; PT 80 pence (+)
* Siemens Energy Raised to Buy at Citi; PT 29 euros
* Tecnicas Reunidas Raised to Overweight at Barclays; PT 14 euros
* YouGov Raised to Buy at Numis; PT 1,200 pence (+)
>>> Down
* A2A Cut to Hold at Intesa Sanpaolo; PT 1.87 euros (+)
* Amyris Cut to Hold at Jefferies; PT 65 cents
* BioPharma Credit Cut to Underperform at Jefferies
* Marks & Spencer Cut to Neutral at Citi; PT 170 pence
* Neste Cut to Sell at Redburn (+)
* Santander Cut to Market Perform at KBW; PT 4.26 euros
* Unicaja Cut to Underperform at KBW; PT 1.10 euros
>>> Initiation
* Advanced Medical Rated New Sector Perform at RBC; PT 285 pence
>>> Call
* ArcelorMittal, SSAB, Acerinox Are Citi’s Top EU Steel Picks
* Marks & Spencer Downgraded to Neutral at Citi on Demand Outlook
* Mitchells & Butlers Raised at Jefferies on Improving Outlook
* Santander and Unicaja Both Cut at KBW, UniCredit Still Top Pick
* Siemens Energy Margin Improvement Potential Sees Upgrade at Citi