>>> Up
* Alfa Laval Upgraded to Reduce at AlphaValue
* Boliden Raised to Equal-weight at Morgan Stanley; PT 246 Kronor
* Curasan Upgraded to Buy at Montega; Price Target 1.10 Euros
* Epiroc Upgraded to Buy at DNB Markets; Price Target 109 Kronor
* Euronext Upgraded to Overweight at JPMorgan; PT 65 Euros
* Imerys Upgraded to Buy at Kepler Cheuvreux
* Norsk Hydro Raised to Overweight at Morgan Stanley; PT 59 Kroner
* OPG Power Ventures Upgraded to Buy at Cenkos Securities
* Savills Upgraded to Buy at Peel Hunt
* SSAB Upgraded to Overweight at Morgan Stanley; PT 56 Kronor
* Uniqa Upgraded to Accumulate at Erste Group; PT 9.70 Euros
* Vienna Insurance Upgraded to Buy at Erste Group; PT 30 Euros
>>> Down
* Auto Trader Cut to Equal-weight at Barclays; PT 4.60 Pounds
* Beter Bed Downgraded to Sell at ING; PT 4.50 Euros
* BHP Downgraded to Equal-weight at Morgan Stanley
* GEA Group Downgraded to Sell at Bankhaus Lampe
* Instalco Intressenter Cut to Hold at SEB Equities; PT 75 Kronor
* J D Wetherspoon Downgraded to Hold at Peel Hunt
* Kinepolis Downgraded to Hold at ING; PT 60 Euros
* Ontex Downgraded to Underweight at JPMorgan; PT Set to 18 Euros
* Randgold ADRs Downgraded to Neutral at JPMorgan; PT $68
* Sky Downgraded to Hold at Jefferies
* Smiths Downgraded to Hold at Deutsche Bank
>>> Initiation
* Avast Rated New Buy at Patria Finance; PT 3.33 Pounds
* Bell Rated New Underperform at MainFirst; PT 280 Francs
* DIA Rated Hold at Bankinter Initiating Coverage; PT EU2.01
* Fresenius SE Assumed at Jefferies With Hold; PT 59 Euros
* Fresenius Medical Assumed at Jefferies With Hold; PT 82 Euros
* Mapfre Reinstated at Renta 4 With Overweight; PT 3.12 Euros
* NFON Rated New Buy at Hauck & Aufhaeuser; PT 19 Euros
* Orior Rated New Outperform at MainFirst; PT 105 Francs
* Valora Reinstated at MainFirst With Neutral; PT 280 Francs
* Spire Healthcare Resumed at Liberum With Hold
* Torm Reinstated at Fearnley With Buy; PT 60 Kroner
>>> Call