>>> Up
* Persimmon Upgraded to Buy at Berenberg
* Smith & Nephew Upgraded to Buy at Berenberg
>>> Down
* Akzo Nobel Downgraded to Sell at Citi (Earlier)
* DSV Downgraded to Hold at Stifel; PT 652 Kroner
* Duerr Downgraded to Hold at Baader Helvea
* Julius Baer Downgraded to Sell at SocGen; PT 38 Francs
* Novartis Downgraded to Hold at Kepler Cheuvreux; PT 91 Francs
* Whitbread Downgraded to Underperform at Bernstein
>>> Initiation
* Infineon Rated New Buy at Loop Capital; PT 19 Euros
* Infineon ADRs Rated New Buy at Loop Capital; PT $22
* Storytel Rated New Buy at Kepler Cheuvreux; PT 144 Kronor
* Whitbread Resumed Equal-weight at Morgan Stanley; PT 46 Pounds
>>> Call
* BMW Shares Cheap Ahead of CEO Change, Morgan Stanley Says
* Smith & Nephew Raised at Berenberg as ‘Significant’ Changes Seen
* U.K. Homebuilders Pricing-In Much Worse Than Berenberg Foresees