>>> Up
* ASML Raised to Neutral at Grupo Santander; PT 480 euros
* Belimo Raised to Buy at Berenberg; PT 440 Swiss francs
* Carlsberg Raised to Buy at Jefferies; PT 1,110 kroner
* Close Brothers Raised to Buy at Berenberg; PT 1,250 pence
* Computacenter Raised to Buy at Citi; PT 2,450 pence
* Givaudan Raised to Overweight at Morgan Stanley
* Next Fifteen Raised to Buy at Peel Hunt (+)
* Soprano Raised to Reduce at Inderes; PT 82 euro cents
* TotalEnergies Raised to Overweight at JPMorgan; PT 62 euros
* Unilever Raised to Buy at Berenberg
* Varta Raised to Buy at M.M. Warburg; PT 53 euros (+)
* Varta Raised to Hold at Hauck & Aufhaeuser; PT 39 euros (+)
>>> Down
* AB InBev Cut to Hold at Jefferies; PT 55 euros
* AB InBev ADRs Cut to Hold at Jefferies; PT $54
* BP Cut to Neutral at JPMorgan; PT 520 pence
* Countryside Cut to Hold at Jefferies; PT 239 pence
* Golden Ocean Cut to Hold at Jefferies; PT 106.96 kroner
* Indel B Cut to Neutral at Banca Akros (ESN); PT 25 euros (+)
* Norsk Hydro Cut to Sell at Nordea; PT 50 kroner
* NSI NV Cut to Neutral at Oddo BHF; PT 26 euros
* Symrise Cut to Underweight at Morgan Stanley; PT 91 euros
* Varta Cut to Neutral at Goldman; PT 50 euros
* Varta Cut to Neutral at JPMorgan; PT 45 euros
* Vastned Cut to Underperform at Oddo BHF; PT 15 euros
* Wereldhave Cut to Neutral at Oddo BHF; PT 14 euros
>>> Initiation
* Ericsson Rated New Neutral at Redburn (+)
* Farfetch Rated New Sell at Citi; PT $6
* Moncler Rated New Outperform at Grupo Santander; PT 58 euros
* Nokia Rated New Buy at Redburn (+)
* OSB Group Rated New Buy at Berenberg; PT 750 pence
* Standard Chartered Rated New Buy at Orient Finance
* Virgin Money UK Resumed Hold at Berenberg; PT 170 pence
>>> Call
* Belimo Upgraded to Buy at Berenberg With Growth Not Priced In (+)
* Carlsberg Raised, AB InBev Cut at Jefferies; Beer Stocks Cheap
* Computacenter Raised to Buy at Citi With De-Rating Set to Halt
* Givaudan Has Superior Outlook to Symrise, Morgan Stanley Says
* Jefferies Cuts Most EMs in Global Allocation on Fed Tightening
* Stay Overweight FTSE 100 After UK Stimulus: Barclays Strategists (+)
* Unilever Set to Deliver on Growth, Raised to Buy at Berenberg
* Unilever CEO Retirement Seen as Positive for Change: Jefferies (+)