>>> Up
*Air France-KLM Raised to Buy at UBS, PT EU7.50
*Dialog Raised to Overweight at JPMorgan, PT EU52
*Hugo Boss Raised to Sector Perform at RBC, PT EU70
*Orange Raised to Buy at Natixis, PT EU17.30
*PGS Raised to Neutral at UBS, PT NOK27
*Philips Raised to Add at AlphaValue
>>> Down
*Ageas Cut to Hold at ING, PT EU39.50
*AO WORLD Cut to Underweight at Morgan Stanley, PT 135p
*Enagas Cut to Equal-Weight at Morgan Stanley, PT EU26
*Heidelberger Druck Cut to Reduce at AlphaValue*Interserve Cut to Neutral at JPMorgan, PT 253p
*Nordea Cut to Sell at DNB Markets, PT SEK99
*OHL Cut to Reduce at Kepler Cheuvreux
*Prosafe Cut to Sell at Pareto Securities, PT NOK30
*Repsol Cut to Neutral at Goldman, PT EU15
*SEB Cut to Sell at DNB Markets, PT SEK102
*Swedbank Cut to Sell at DNB Markets, PT SEK212
>>> Initiation
*Baloise Re-initiated Buy at Berenberg, PT CHF152
*Coats Group Rated New Buy at UBS, PT 80p
*Helvetia Re-initiated Buy at Berenberg, PT CHF650
*Johnson Matthey Rated New Market Perform at Bernstein, PT 3400p
*Kinnevik Rated New Buy at Deutsche Bank, PT SEK264
*Mail.Ru Group Resumed Overweight at Morgan Stanley, PT $24
*MLP Rated New Buy at Hauck & Aufhaeuser, PT EU7.40
*Swiss Life Re-initiated Hold at Berenberg, PT CHF310
*Umicore Rated New Outperform at Bernstein, PT EU64
>>> Call
>> Stock
*Euronext Exits Conviction Buy at Goldman; Volumes Lackluster
*TOTAL ADDED TO CONVICTION BUY LIST AT GOLDMAN