>>> Up
* ADP Raised to Hold at HSBC; PT 125 euros
* Delivery Hero Raised to Overweight at JPMorgan; PT 65 euros
* Heineken PT Raised to 125 euros from 120 euros at Jefferies
* Novartis Raised to Buy at Intron Health; PT 90 Swiss francs
>>> Down
* HSBC Cut to Neutral at Exane; PT 750 pence
* Marel HF Cut to Hold at ING; PT ISK638.11
* Nexans Cut to Hold at SocGen; PT 100 euros
>>> Initiation
* Tinybuild Rated New Buy at Peel Hunt; PT 200 pence
>>> Call
* Grand City Trading Near Bear Case, Citi Reiterates Buy Rating
* Delivery Hero Upgraded at JPMorgan as Positives Are Emerging
* Swatch PT Hiked at Citi as Downside Risk Now Seen as Limited