>>> Up
* Estee Lauder Upgraded to Buy at Citi; PT Set to $155
* Lufthansa Upgraded to Neutral at Citi
* Safilo Raised to Hold at Kepler Cheuvreux; Price Target 80 Cents
>>> Down
* Ceconomy Cut to Reduce at Kepler Cheuvreux; PT Set to 2.70 Euros
* Gerresheimer Cut to Underweight at JPMorgan; PT 49.50 Euros
* IAG Downgraded to Sell at Citi
* Smith & Nephew Cut to Neutral at JPMorgan; PT 14.77 Pounds
>>> Initiation
* AO World Reinstated at Jefferies With Hold; PT 1.30 Pounds
* Verona Pharma Reinstated at Stifel With Hold; PT 11 Pence
>>> Call