>>> Up
* NOS Upgraded to Buy at Grupo Santander; Price Target 6 Euros
* PATRIZIA AG Upgraded to Buy at Bankhaus Lampe
* Telekom Austria Upgraded to Buy at Jefferies; PT 8 Euros
>>> Down
* Hapag-Lloyd Downgraded to Reduce at Commerzbank; PT 53 Euros
* ISS Downgraded to Hold at Jefferies; PT 180 Kroner
* RBS Downgraded to Equal-weight at Barclays; PT 2.25 Pounds
* Shurgard Self Storage Downgraded to Hold at HSBC; PT 31 Euros
>>> Initiation
* Air France-KLM Reinstated at BofAML With Buy; PT 12 Euros
* Banco Santander Resumed at Citi With Neutral; PT 3.80 Euros
* EasyJet Reinstated at BofAML With Neutral; PT 12 Pounds
* Geberit Rated New Underweight at Barclays; PT 410 Francs
* IAG Reinstated at BofAML With Buy; PT 6.60 Pounds
* J. Martins Reinstated Equal-weight at Morgan Stanley
* Lufthansa Reinstated at BofAML With Underperform; PT 12.20 Euros
* Norwegian Air Reinstated Underperform at BofAML; PT 27 Kroner
* Ryanair Reinstated at BofAML With Buy; PT 13.50 Euros
* Vivo Energy Rated New Buy at Berenberg; PT 1.68 Pounds
* Wizz Air Rated New Buy at BofAML; PT 41 Pounds
>>> Call
* Commerzbank’s New Strategy Has ‘Few Positives,’ Citi Says
* Vivo Energy Shares Yet to Reflect Profitable Outlook: Berenberg