>>> Up
* Kemira Oyj Upgraded to Hold at HSBC; PT 12 Euros
* Kering Upgraded to Buy at UBS; PT Set to 550 Euros
* TLG Immobilien Upgraded to Buy at Bankhaus Lampe; PT 29 Euros
>>> Down
* BAM Downgraded to Hold at ABN Amro Bank; PT 2.85 Euros
* Elisa Oyj Downgraded to Underweight at JPMorgan; PT 42 Euros
* Hexagon Downgraded to Hold at Handelsbanken; PT 525 Kronor
* Mediclinic Cut to Reduce at HSBC; Price Target 3.10 Pounds
* Kinnevik Downgraded to Hold at SEB Equities; PT 274 Kronor
* Richemont Downgraded to Sell at UBS
* Telefonica Downgraded to Hold at Renta 4; PT 7.20 Euros
* Weir Downgraded to Neutral at JPMorgan; PT 15 Pounds
>>> Initiation
* Aroundtown Rated New Overweight at Barclays; PT 8 Euros
* Direct Line Rated New Buy at Panmure Gordon; PT 3.30 Pounds
* J. Martins Rated New Underperform at Bernstein; PT 12.50 Euros
* K+S Rated New Underweight at Morgan Stanley; PT 13.70 Euros
* Kuehne + Nagel Downgraded to Neutral at MainFirst; PT 150 Francs
* OCI Rated New Overweight at Morgan Stanley; PT 25.50 Euros
* Swatch Rated New Sell at UBS; PT 217 Francs
* Yara Rated New Equal-weight at Morgan Stanley; PT 442 Kroner
>>> Call
* Swatch and Richemont Rated Sell, Kering Buy at UBS on China
* Hexagon Is Cut at Handelsbanken on Trade Tension Uncertainty
* OCI Top Pick in Fertilizers, K+S Underweight: Morgan Stanley