>>> Up
* Admicom Raised to Buy at Inderes; PT 63 euros
* Ceres Power Raised to Buy at Goldman; PT 700 pence
* Elkem Raised to Neutral at Citi; PT 35 kroner
* NatWest Raised to Buy at Jefferies; PT 359 pence
* Smurfit Kappa Raised to Buy at Jefferies; PT 3,700 pence
>>> Down
* ArcelorMittal Cut to Neutral at JPMorgan; PT 32.50 euros
* Carrefour Cut to Underperform at Bernstein; PT 16.50 euros
* Grifols Cut to Neutral at Alantra Equities; PT 20.39 euros
* Grifols ADRs Cut to Neutral at Alantra Equities; PT $21.44
* Kone Cut to Hold at Berenberg; PT 50 euros
* Kone Cut to Sell at Goldman; PT 44 euros
* Mips Cut to Hold at Berenberg; PT 600 kronor
* Stendorren Fastigheter Cut to Hold at Handelsbanken
* Verkkokauppa.com Cut to Hold at Nordea
* Voestalpine Cut to Underweight at JPMorgan; PT 27.50 euros
>>> Initiation
* Believe Rated New Neutral at Oddo BHF; PT 11.50 euros
* Sartorius Stedim Biotech Rated New Buy at HSBC; PT 410 euros
* Stora Enso Re-Initiated Buy at Handelsbanken
* Zordix Rated New Buy at Pareto Securities; PT 35 kronor
>>> Call
* Carrefour Cut at Bernstein on Price War, Reduced Chance of M&A
* Elkem Loses Last Sell Rating as Citi Cites Rising Silicon Prices
* Mips Cut to Hold at Berenberg on Lack of Near-Term Triggers
* NatWest Upgraded to Buy at Jefferies on More Obvious Upside
* Structural Growth Shines Among Industrials When IP Growth Erodes