>>> Up
* Baloise Upgraded to Overweight at JPMorgan; PT 190 Francs
* Deutz Upgraded to Buy at Kepler Cheuvreux; PT 8 Euros
* Galp ADRs Upgraded to Outperform at RBC; PT $10.20
* Groupe Gorge Upgraded to Hold at Kepler Cheuvreux; PT 11 Euros
* Grupo Catalana Occidente Raised to Overweight at JPMorgan
* Hikma Upgraded to Buy at Citi
* Informa Upgraded to Overweight at Morgan Stanley; PT 8.40 Pounds
* K+S Upgraded to Buy at Commerzbank; Price Target 21.50 Euros
* Leonardo Upgraded to Buy at AlphaValue
* Lufthansa Upgraded to Add at AlphaValue
* Telekom Austria Upgraded to Buy at HSBC; PT 8.05 Euros
* Total ADRs Upgraded to Outperform at RBC; PT $68
>>> Down
* Commerzbank Cut to Sector Perform at RBC; Price Target 8 Euros
* Commerzbank Downgraded to Sell at Nord/LB; PT 6.35 Euros
* DWS Downgraded to Hold at Kepler Cheuvreux; PT 29.70 Euros
* DWS Downgraded to Hold at DZ Bank; Price Target 28 Euros
* Fiskars Downgraded to Sell at Carnegie
* Leoni Downgraded to Underperform at MainFirst; PT 15 Euros
* Marshalls Downgraded to Hold at Berenberg
* Orsted Downgraded to Neutral at Goldman; PT 525 Kroner
* Repsol ADRs Downgraded to Underperform at RBC; PT $19.30
* Shell Downgraded to Sector Perform at RBC; PT 27.50 Pounds
* Swiss Life Cut to Neutral at JPMorgan; Price Target 440 Francs
* Swiss Re Downgraded to Hold at SocGen; PT 100 Francs
* Technotrans Cut to Hold at Pareto Securities; PT 31.80 Euros
* Wacker Neuson Downgraded to Hold at Commerzbank; PT 25.80 Euros
* Worldpay Downgraded to Market Perform at Cowen; PT $112
* Worldpay Downgraded to Sector Weight at KeyBanc
* Worldpay Downgraded to Market Perform at KBW; PT $111
* Worldpay Downgraded to Neutral at Mizuho; PT $112
>>> Initiation
* Barry Callebaut Reinstated Equal-weight at Barclays
* Chr. Hansen Rated New Overweight at Barclays; PT 800 Kroner
* CompuGroup Rated New Outperform at MainFirst; PT 63 Euros
* Experian Reinstated Underweight at Morgan Stanley; PT 18 Pounds
* Tate & Lyle Reinstated at Barclays With Overweight; PT 8 Pounds
* Vivo Energy Rated New Buy at Renaissance Capital; PT 1.70 Pounds
>>> Call