>>> Up
* Cellnex Raised to Overweight at Morgan Stanley; PT 45 euros
* Salmar Raised to Buy at Berenberg
* Wartsila Raised to Neutral at JPMorgan; PT 9 euros
>>> Down
* Capital & Counties Cut to Hold at HSBC; PT 265 pence
* Compass Cut to Hold at Liberum; PT 2,000 pence
* Deutsche Euroshop Cut to Reduce at HSBC; PT 24 euros
* DiaSorin Cut to Hold at Berenberg; PT 118 euros
* Hannover Re Cut to Equal-Weight at Morgan Stanley
* Johnson Matthey PT Cut to 3,500 pence at Liberum
* Klepierre Cut to Hold at HSBC; PT 35 euros
* Mitchells & Butlers Cut to Hold at Berenberg; PT 480 pence
* Pennon Cut to Neutral at Citi; PT 950 pence
* Rolls-Royce Cut to Equal-Weight at Morgan Stanley; PT 800 pence
* Shaftesbury Cut to Underperform at Jefferies
>>> Initiation
* Big Yellow Group Rated New Underperform at RBC; PT 975 pence
* Cie des Alpes Rated New Buy at Berenberg; PT 39.40 euros
* Clariant Reinstated Neutral at Citi
* Norske Skog Rated New Buy at ABG; PT 50 kroner
* Teleperformance Rated New Buy at Deutsche Bank; PT 240 euros
>>> Call
* Cellnex Set at Overweight, More M&A Expected: Morgan Stanley
* Clariant Reinstated as Neutral at Citi; Going Alone a Challenge
* Mitchells & Butlers Due For a Pause, Cut to Hold: Berenberg
* Rolls-Royce No Longer a Buy at Morgan Stanley on Cash Outlook
* Shaftesbury’s Bigger Shops Are an Issue, Jefferies Cuts Rating
* Teleperformance an ‘Unrivaled’ Leader, Set at Buy: Deutsche Bank