>>> Up
* Beiersdorf Upgraded to Outperform at MainFirst; PT 105 Euros
* Delivery Hero Upgraded to Overweight at JPMorgan
* DWS Upgraded to Neutral at BofAML; PT 35 Euros
* Ferrexpo Upgraded to Buy at Liberum
>>> Down
* Deutsche Boerse Downgraded to Hold at DZ Bank; PT 125 Euros
* Elkem Downgraded to Equal-weight at Morgan Stanley; PT 37 Kroner
* Just Eat Downgraded to Underweight at JPMorgan
* RBS Downgraded to Underperform at KBW; PT 2.35 Pounds
>>> Initiation
* Commerzbank Resumed Equal-weight at Morgan Stanley; PT 9 Euros
* Deutsche Bank Resumed at Morgan Stanley With Underweight
>>> Call
* Delivery Hero Top Takeaway Pick at JPMorgan, Bearish on Just Eat
* Commerzbank Preferred to Deutsche Bank at Morgan Stanley