>>> Up
*Beiersdorf Raised to Neutral at UBS, PT EU93
*Brenntag Raised to Hold at Commerzbank, PT EU52
*DNB Raised to Reduce at AlphaValue
*Lonza Raised to Buy at Jefferies, PT CHF275
*Schibsted Raised to Buy at ABG, PT NOK231
*Sinopec Shanghai H Shares Raised to Overweight at JPMorgan
>>> Down
*Biotest Cut to Neutral at MainFirst, PT EU21
*Drax Cut to Neutral at Citi
*ERG Cut to Neutral at MedioBanca, PT EU12.50
*Hunting Cut to Underweight at Morgan Stanley
*Rational Cut to Hold at HSBC, PT EU533
*Salzgitter Cut to Neutral at Goldman, PT EU41
*Stada Cut to Neutral at MainFirst, PT EU66.25
*Weir Cut to Equal-weight at Morgan Stanley
*Wirecard Cut to Hold at Bankhaus Lampe
>>> Initiation
*AA New Overweight at Barclays, PT GBP2.80
*Altice USA New Outperform at Exane, PT $36
*BCE New Hold at Argus
*Hollywood Bowl Group New Buy at Berenberg, PT 210p
*Hotel Chocolat New Hold at Berenberg, PT 330p
*Metro Wholesale & Food Specialist New Overweight at Barclays
*Osram New Buy at Berenberg, PT EU87
*Patisserie Holdings New Buy at Berenberg, PT 400p
*Philips Lighting New Buy at Berenberg, PT EU40
*TEN Entertainment Group New Buy at Berenberg, PT 240p
*Zumtobel New Hold at Berenberg, PT EU19