>>> Up
* Air France-KLM Raised to Market Perform at Bernstein
* Brenntag Raised to Overweight at JPMorgan; PT 98 euros
* National Grid PT Raised to 1,280 pence at Credit Suisse
* Sinch Raised to Overweight at JPMorgan; PT 55 kronor
>>> Down
* KGHM Cut to Underweight at JPMorgan; PT 95 zloty
* Leonardo Cut to Neutral at Goldman; PT 12 euros
* Vivendi Cut to Equal-Weight at Barclays; PT 11.25 euros
>>> Initiation
>>> Call
* Deliveroo Upgraded, MS is Structurally Positive on Food Delivery
* Shell Put on Downside Catalyst Watch at Citi Before Investor Day