>>> Up
* AB InBev Upgraded to Buy at SBG Securities; PT 110 Euros
* Beiersdorf Upgraded to Hold at Nord/LB; Price Target 88 Euros
* Merlin Upgraded to Hold at Berenberg
* Moneysupermarket Upgraded to Buy at Peel Hunt; PT 3.40 Pounds
* Uutechnic Group Upgraded to Accumulate at Inderes; PT 40 Cents
* Valeo Upgraded to Equal-weight at Morgan Stanley; PT 53 Euros
>>> Down
* Faurecia Downgraded to Underperform at Jefferies
* Freenet Downgraded to Hold at DZ Bank; PT 28 Euros
* Hoegh LNG Downgraded to Hold at Arctic Securities; PT 60 Kroner
* J. Martins Downgraded to Reduce at HSBC; PT 14 Euros
* Otello Downgraded to Hold at Beringer Finance; PT 25 Kroner
* Travis Perkins Downgraded to Hold at Canaccord; PT 14.20 Pounds
>>> Initiation
* AIB Group Reinstated at Investec With Hold; PT 5.75 Euros
* Amplifon Reinstated at Jefferies With Hold; PT 12.80 Euros
* Essilor Reinstated at Jefferies With Buy; PT 132 Euros
* Implenia Reinstated at MainFirst With Outperform; PT 75 Francs
* Metro Bank Reinstated Buy at William O'Neil & Co Incorporated
>>> Call