>>> Up
* Aareal Bank Raised to Buy at HSBC; PT 21 euros
* Chemring Group Raised to Buy at Berenberg; PT 235 pence
* Deutsche Boerse Raised to Equal-Weight at Morgan Stanley
* InterContinental Hotels Raised to Outperform at RBC
* J D Wetherspoon Raised to Buy at HSBC; PT 1,020 pence
* M&G Raised to Outperform at RBC; PT 160 pence
* Man Group Raised to Overweight at Morgan Stanley; PT 154 pence
* Marston's Raised to Hold at HSBC; PT 40 pence
* Mitchells & Butlers Raised to Buy at HSBC; PT 270 pence
* NNIT Raised to Hold at SEB Equities; PT 85 kroner
* Proximus Raised to Hold at Deutsche Bank; PT 21 euros
* Remedy Entertainment Raised to Buy at Inderes; PT 18 euros
* Rio Tinto Raised to Outperform at BMO; PT 4,200 pence
* LSE Cut to Reduce at AlphaValue
* Sabadell Cut to Sell at SocGen; PT 39 euro cents
* SCA Cut to Hold at SEB Equities; PT 103 kronor
* Ultra Electronics Raised to Buy at Berenberg; PT 2,300 pence
>>> Down
* 3i Cut to Equal-Weight at Morgan Stanley; PT 880 pence
* Anglo American Cut to Market Perform at BMO; PT 1,400 pence
* Antofagasta Cut to Market Perform at BMO; PT 750 pence
* Ashmore Cut to Equal-Weight at Morgan Stanley; PT 386 pence
* Demant Cut to Sell at Handelsbanken
* Fortum Oyj Cut to Reduce at HSBC; PT 12 euros
* GN Store Nord Cut to Neutral at JPMorgan; PT 324 kroner
* Huhtamaki Oyj PT Cut to 35 euros from 50 euros at Berenberg
* KPN Cut to Equal-Weight at Morgan Stanley; PT 2.70 euros
* Nemetschek Cut to Equal-Weight at Morgan Stanley
* Safran Cut to Market Perform at Bernstein; PT 83 euros
* Standard Life Aberdeen Cut to Underweight at Morgan Stanley
* Uniper Cut to Reduce at HSBC; PT 21 euros
>>> Initiation
* Buzzi Unicem Resumed Buy at Citi; PT 22.50 euros
* Sixt Rated New Buy at Jefferies; PT 80 euros
>>> Call
* IHG’s Defensive Model Undervalued, RBC Upgrades to Outperform
* MS Cautious on EU Asset Managers, Prefers Private Players
* U.K. Bank Stocks May Underperform Peers on Dividend Cuts: Citi
* Ultra, Chemring Raised as Defense Should Be Defensive: Berenberg