>>> Up
* AstraZeneca Upgraded to Buy at Shore Capital
* Deutsche Boerse Upgraded to Hold at Bankhaus Lampe
* Gecina Upgraded to Buy at Goldman; PT 134.20 Euros
* Gjensidige Upgraded to Buy at Norne Securities; PT 162 Kroner
* Grand City Properties Upgraded to Buy at Goldman; PT 22.80 Euros
* Iberdrola Upgraded to Buy at HSBC; PT 7.80 Euros
* Land Sec. Upgraded to Neutral at Goldman; PT 7.69 Pounds
* NCC Upgraded to Buy at Citi
* SCA Upgraded to Hold at SEB Equities; Price Target 75 Kronor
>>> Down
* Adecco Downgraded to Reduce at Oddo BHF; PT 47 Francs
* Alstria Office Downgraded to Neutral at Goldman; PT 13.60 Euros
* Bakkavor Downgraded to Hold at HSBC; PT 1.50 Pounds
* Castellum Downgraded to Sell at Goldman; PT 147 Kronor
* Colruyt Downgraded to Sell at Citi
* Fevertree Drinks Cut to Hold at Jefferies; PT 32.50 Pounds
* Intu Downgraded to Sell at Goldman; PT 92 Pence
* ITV Downgraded to Hold at SocGen; PT 1.38 Pounds
* Klepierre Downgraded to Neutral at Goldman; PT 30 Euros
* Mercialys Downgraded to Sell at Goldman; PT 10.80 Euros
* Merlin Downgraded to Sell at Goldman; PT 10 Euros
* Norsk Hydro Downgraded to Neutral at SpareBank; PT 40 Kroner
* SGS Downgraded to Neutral at Credit Suisse; PT 2,400 Francs
* Sureserve Upgraded to Buy at Peel Hunt
* Swatch Downgraded to Neutral at Credit Suisse; PT 340 Francs
* Swiss Life Downgraded to Neutral at MainFirst; PT 444 Francs
>>> Initiation
* Cranswick Rated New Hold at HSBC; PT 28.10 Pounds
* CTS Eventim Reinstated at Commerzbank With Buy; PT 44 Euros
* Dairy Crest Rated New Buy at HSBC; PT 5.70 Pounds
* Greencore Group Rated New Buy at HSBC; PT 2.70 Pounds
* Hermes International Reinstated Neutral at MainFirst
* Hilton Food Rated New Hold at HSBC; PT 9.20 Pounds
>>> Call