>>> Up
* Accor Upgraded to Neutral at MainFirst; PT 36 Euros
* Beiersdorf Upgraded to Buy at Bankhaus Lampe
* Danone Raised to Buy at LBBW
* Duerr Upgraded to Buy at Baader Helvea; Price Target 43 Euros
* EDP Renovaveis Upgraded to Outperform at BBVA; PT 10 Euros
* Lundbergforetagen Upgraded to Buy at DNB Markets; PT 360 Kronor
* PhotoCure Upgraded to Buy at Norne Securities; PT 56 Kroner
* REN Upgraded to Market Perform at BBVA; PT 2.40 Euros
* Sartorius Upgraded to Buy at Bankhaus Metzler; PT 190 Euros
* Serco Upgraded to Outperform at RBC; PT 1.50 Pounds
* Telefonica Deutschland Raised to Neutral at Macquarie
>>> Down
* Bechtle Cut to Hold at Baader Helvea; Price Target 112 Euros
* Ocean Yield Downgraded to Hold at Kepler Cheuvreux; PT 62 Kroner
* SSAB Downgraded to Add at AlphaValue
>>> Initiation
* Distribution Finance Capital Rated New Outperform at Macquarie
* Diploma Rated New Overweight at JPMorgan; PT 16.78 Pounds
* Electrocomponents Rated New Neutral at JPMorgan; PT 5.91 Pounds
* Network International Rated New Buy at Liberum; PT 6.50 Pounds
* Sunrise Rated New Outperform at MainFirst; PT 80 Francs
* Swisscom Rated New Underperform at MainFirst; PT 450 Francs
* Thule Rated New Hold at Kepler Cheuvreux; PT 235 Kronor
* Ultra Electronics Rated New Hold at Jefferies; PT 17.75 Pounds
* Valmet Rated New Hold at SEB Equities; PT 24 Euros
>>> Call