>>> Up
* Close Brothers Raised to Buy at Investec; PT 1,170 pence (+)
* Fodelia Raised to Accumulate at Inderes; PT 5.50 euros
* Great Portland Raised to Overweight at Morgan Stanley
* Kion Raised to Overweight at JPMorgan; PT 58 euros
* Legrand Raised to Overweight at JPMorgan; PT 95 euros
* Signify Raised to Overweight at JPMorgan; PT 43 euros
* SocGen Raised to Buy at BofA; PT 35 euros
* Unite Group Raised to Overweight at Morgan Stanley
>>> Down
* Andritz Cut to Neutral at JPMorgan; PT 60 euros
* British Land Cut to Hold at Panmure Gordon; PT 449 pence (yest.)
* CFE Cut to Hold at Berenberg
* Electrolux Cut to Underweight at JPMorgan; PT 135 kronor
* Froey Cut to Hold at Arctic Securities; PT 50 kroner (+)
* GEA Group Cut to Underweight at JPMorgan; PT 31 euros
* Hapag-Lloyd Cut to Reduce at HSBC; PT 193 euros
* Hermes Cut to Hold at HSBC; PT 1,500 euros
* Land Sec. Cut to Hold at Panmure Gordon; PT 645 pence (yest.)
* LVMH Cut to Hold at HSBC; PT 725 euros
* Norway Royal Salmon Cut to Hold at Nordea (+)
* Orpea Cut to Hold at Berenberg; PT 41.50 euros
* Richemont Cut to Hold at HSBC; PT 127 Swiss francs
* Swatch Cut to Hold at HSBC; PT 270 Swiss francs
* Vestas Cut to Sell From Hold at ABG Sundal Collier (+)
>>> Initiation
* Note Rated New Buy at SEB Equities; PT 235 kronor
* Norwegian Air Rated New Sell at Nordea; PT 7 kroner (+)
* Sino Rated New Buy at Baader Helvea; PT 49.30 euros
>>> Call
* Berenberg Tweaks Midcap Top Picks, Downgrades CFE and Orpea
* Pernod Ricard’s Positive Outlook Likely to Be in Focus, RBC Says (+)
* Societe Generale Upgraded to Buy at BofA; Stock Re-Rating Ahead
* UK, Logistics and Health Care are Morgan Stanley Property Picks