>>> Up
* Beiersdorf Upgraded to Neutral at JPMorgan; PT 101 Euros
* Ferrexpo Upgraded to Buy at HSBC; PT 2.75 Pounds
* Verbund Upgraded to Reduce at AlphaValue
>>> Down
* Edenred Downgraded to Neutral at MainFirst; PT 29 Euros
* Galp Downgraded to Sector Perform at RBC; Price Target 17 Euros
* Hornbach Baumarkt Cut to Reduce at Commerzbank; PT 26.50 Euros
* Indra Downgraded to Sell at Goldman; PT 9.50 Euros
* Informa Downgraded to Hold at Peel Hunt
>>> Initiation
* BCP Reinstated at BBVA With Market Perform; PT 26 Cents
* Epiroc Rated New Equal-weight at Barclays; PT 97 Kronor
* Hannover Re Rated New Hold at Berenberg
* Munich Re Rated New Buy at Berenberg
* SEB Resumed at Morgan Stanley With Equal-weight; PT 100 Kronor
* Scor Rated New Buy at Berenberg
* SEB Resumed at Equal-Weight, Top Pick Still DNB: Morgan Stanley
* Swiss Re Rated New Hold at Berenberg
>>> Call