>>> Up
* Adecco Upgraded to Outperform at RBC; Price Target 73 Francs
* Aggreko Upgraded to Neutral at Credit Suisse; PT 6.50 Pounds
* Bertrandt Raised to Buy at M.M. Warburg; Price Target 105 Euros
* Carnival Plc Upgraded to Buy at Berenberg
* *COVESTRO RAISED TO BUY VS HOLD AT BAADER HELVEA
* GE Upgraded to Market Perform at Oppenheimer
* Petrofac Upgraded to Buy at Kepler Cheuvreux; PT 6.60 Pounds
* Sainsbury Upgraded to Overweight at Barclays; PT 3.75 Pounds
* SGS Upgraded to Overweight at Barclays; PT 2,850 Francs
>>> Down
* Altamir Downgraded to Hold at Jefferies
* Balyo Downgraded to Add at Gilbert Dupont
* BMW Downgraded to Reduce at AlphaValue
* Elior Group Cut to Neutral at Credit Suisse; PT 13.90 Euros
* Gerresheimer Downgraded to Hold at Bankhaus Lampe
* Gima TT Downgraded to Hold at Kepler Cheuvreux; PT 16.70 Euros
* ICG Enterprise Trust Downgraded to Hold at Jefferies
* Merlin Downgraded to Hold at SocGen; PT 13.70 Euros
* Rubis Downgraded to Hold at Berenberg
>>> Initiation
* Adyen Rated New Buy at Berenberg; PT 590 Euros
* Corestate Rated New Buy at Bankhaus Lampe; PT 66 Euros
* Eutelsat Reinstated at Goldman With Neutral
* Inmarsat Reinstated at Goldman With Neutral
* Independent Oil & Gas Rated New Buy at Peel Hunt; PT 60 Pence
* Puma Rated New Neutral at Wedbush; PT 465 Euros
>>> Call