>>> Up
* Air Products Raised to Overweight at JPMorgan; PT $275
* BAE Raised to Neutral at Exane; PT 747 pence
* Banco Santander Raised to Buy at Jefferies; PT 3.80 euros
* Eni Raised to Buy at HSBC; PT 14.90 euros
* EssilorLuxottica Raised to Buy at HSBC; PT 210 euros
* Knorr-Bremse Raised to Overweight at JPMorgan; PT 90 euros
* Merlin Properties Raised to Outperform at Exane; PT 12 euros
* National Bank of Greece Raised to Buy at Citi; PT 4.20 euros
* Sabadell Raised to Buy at Jefferies; PT 90 euro cents
* Workspace Raised to Hold at Peel Hunt
>>> Down
* Aroundtown Cut to Neutral at Exane; PT 5 euros
* Balfour Beatty Cut to Underweight at Morgan Stanley
* CaixaBank Cut to Hold at Jefferies; PT 3.50 euros
* Carmila Cut to Neutral at Exane; PT 13.90 euros
* Covivio Cut to Neutral at Exane; PT 72 euros
* Derwent London Cut to Neutral at Exane; PT 3,250 pence
* Fortune Brands Cut to Hold at Jefferies; PT $95
* H&M Cut to Neutral at JPMorgan; PT 180 kronor
* Klepierre Cut to Underperform at Exane; PT 20 euros
* LEG Immobilien Cut to Neutral at Exane; PT 110 euros
* Segro Cut to Neutral at Exane; PT 1,140 pence
* Topdanmark Cut to Sell at SEB Equities; PT 386 kroner
* TotalEnergies Cut to Hold at HSBC; PT 51.40 euros
>>> Initiation
* Funding Circle Rated New Buy at Berenberg; PT 120 pence
* Holcim Resumed Buy at Citi; PT 64 Swiss francs
* Idorsia Rated New Sell at Kempen & Co; PT 13 Swiss francs
* Otovo Rated New Buy at SEB Equities; PT 37 kroner
* S&U Rated New Hold at Berenberg; PT 2,660 pence
* Secure Rated New Buy at Berenberg; PT 1,820 pence
* St James's Place Rated New Buy at Jefferies; PT 1,740 pence
>>> Call
* Casino PT Trimmed at JPMorgan on Higher Leverage, French Outlook
* Sabadell, Santander Raised at Jefferies, CaixaBank Downgraded