>>> Up
* Aixtron Raised to Accumulate at Equinet
* Beiersdorf Raised to Outperform at Credit Suisse
* EasyJet Raised to Neutral at MainFirst, PT GBP13
* Hammerson Raised to Neutral at Exane
* N Brown Raised to Buy at HSBC, PT GBP3.85
* Puma SE Raised to Buy at Baader-Helvea, PT EU400
>>> Down
* Air France-KLM Cut to Neutral at MainFirst, PT EU14
* BMW Cut to Underweight at Morgan Stanley, PT EU81
* Com Hem Cut to Neutral at Credit Suisse
* FACC Cut to Accumulate at Erste Group, PT EU15
* L'Oreal Cut to Neutral at Credit Suisse
* NEX Group Cut to Underperform at RBC, PT 600p
* Ryanair Cut to Underperform at MainFirst, PT EU14
* Segro Cut to Neutral at Exane
>>> Initiation
* Amundi New Buy at Berenberg, PT EU84
* Anima New Buy at Berenberg, PT EU7.90
* Azimut New Hold at Berenberg, PT EU18.70
* Engie New Neutral at MedioBanca, PT EU15
* Pirelli New Hold at Deutsche Bank, PT EU6.70
* Rocket Internet New Buy at Bankhaus Lampe, PT EU27
* Unipol New Overweight at JPMorgan, PT EU5
* UnipolSai New Neutral at JPMorgan, PT EU2.27
* Wood Group Reinstated Underweight at Barclays, PT 730p