TheChek News Flow

>>> Up
* ArcelorMittal Raised to Overweight at Barclays; PT 25 euros

* Aryzta Raised to Buy at Bank Vontobel; PT 2.30 Swiss francs

* Bradesco ADRs Raised to Buy at Goldman; PT $3.20 (+)

* Coca-Cola Femsa ADRs Raised to Outperform at Itau BBA; PT $101

* Demant AS raised to Hold from Reduce at Kepler Cheuvreux PT DKK20

* Ebro Foods Raised to Outperform at Grupo Santander

* ForFarmers raised to Hold from Reduce at Kepler Cheuvreux, PT Euro 3

* Holcim raised to Buy from Hold at Deutsche Bank, PT CH91

* Kesla Raised to Reduce at Inderes; PT 3.80 euros

* Martela Raised to Reduce at Inderes; PT 1 euro

* Nexstim Raised to Accumulate at Inderes; PT 3.40 euros (++)

* NIBE Industrier Raised to Hold at ABG; PT 50 kronor

* NIBE Industrier Raised to Accumulate at Inderes; PT 53 kronor (+)

* Seplat Energy Raised to Buy at Vetiva Capital Management Ltd (++)

* Travis Perkins Raised to Add at Peel Hunt; PT 980 pence

>>> Down

* Argenx Cut to Accumulate at KBC Securities; PT 530 euros (+)
* Avance Gas Cut to Sell at Arctic Securities; PT 128 kroner

* Emmi Cut to Hold at Bank Vontobel; PT 930 Swiss francs

* HP Inc Cut to Equal-Weight at Morgan Stanley; PT $37

* Himalaya Shipping Cut to Sell at DNB Markets; PT 67 kroner (+)

* K+S PT Cut to 10 euros from 12 euros at UBS (++)

* Karnell Group Cut to Hold at SEB Equities; PT 54 kronor

* Mobilezone Cut to Hold at Research Partners (+)

* Nexans Cut to Neutral at Goldman; PT 117 euros (+)

* OSB Group Cut to Hold at Peel Hunt; PT 395 pence

* Ovaro Kiinteistosijoitus Cut to Reduce at Inderes; PT 4.40 euros

* PNE AG Cut to Hold at SMC Research; PT 14.80 euros (++)

* Scatec Cut to Hold at SEB Equities; PT 86 kroner

* Vestas cut to Hold from Buy at Kepler Cheuvreux, PT DKK 175

>>> Initiation
* Holmen Rated New Equal-Weight at Barclays; PT 390 kronor

* IPC Rated New Hold at Fearnley; PT 145 kronor (+)

* Vitec Software Group Rated New Buy at Pareto Securities (++)

>>> Call

* ArcelorMittal Rises; Barclays Upgrades on Attractive Entry Point (++)

* Goldman Sachs Strategists See Consensus on US Margins Too High (+)
* Hedge Funds Buy Stocks as Growth Concerns Ease: Goldman Sachs

* HP Inc. Downgraded at Morgan Stanley on Limited Valuation Upside

* Deutsche Bank Strategists Say Equity Positioning Rises Again (++)

* OSB Rating, Estimates Cut at Peel Hunt After Outlook Lowered

* Travis Perkins Upgraded at Peel Hunt on Confidence in Recovery