>>> Up
* Accor Upgraded to Overweight at Barclays; PT 46 Euros
* Sainsbury Upgraded to Overweight at Barclays; PT 2.50 Pounds
* Software AG Upgraded to Overweight at Barclays; PT 33.50 Euros
>>> Down
* Asos Downgraded to Neutral at JPMorgan; PT 38 Pounds
* Evolution Gaming Cut to Hold at Kepler Cheuvreux; PT 229 Kronor
* J. Martins Downgraded to Hold at Berenberg
* Munich Re Downgraded to Underperform at Jefferies; PT 193 Euros
* NCC Cuts to Holf from Buy, PT SEK170
* Nordea Downgraded to Hold at ABG; PT 69 Kronor
* Norma Downgraded to Hold at Bankhaus Metzler; PT 30 Euros
* Sophos Downgraded to Neutral at Citi
* SGS Downgraded to Reduce at Kepler Cheuvreux; PT 2,225 Francs
>>> Initiation
* Aveva Rated New Hold at Jefferies; PT 38.40 Pounds
* Basware Assumed at Jefferies With Hold; PT 20 Euros
* Blue Prism Rated New Buy at Jefferies; PT 17.10 Pounds
* Dassault Systemes Rated New Hold at Jefferies; PT 131 Euros
* Hannover Re Reiterate Neutral at JPM, PT Raised from E114 to E130
* Micro Focus ADRs Rated New Hold at Jefferies; PT $21
* Micro Focus Rated New Hold at Jefferies; PT 17 Pounds
* Sophos Rated New Buy at Jefferies; PT 5.40 Pounds
>>> Call
* Dassault Systemes Seen Fully Valued, Gets New Hold at Jefferies
* European Telcos May Become Attractive in 2H: Morgan Stanley
* Jeronimo Martins Polish Tax Impact Sees Estimates Cut: Berenberg
* Sophos Valuation Full, Earnings Visibility Is Limited, Citi Says