>>> Up
* Airbus Upgraded to Add at AlphaValue
* CNP Assurances Upgraded to Neutral at Natixis
* Dechra Pharma Upgraded to Buy at Jefferies
* Getinge Upgraded to Hold at Danske Bank; PT 105 Kronor
* Iberdrola Upgraded to Outperform at MedioBanca; PT 7.40 Euros
* Inditex Upgraded to Buy at BPI; Price Target 33.20 Euros
* Merlin Upgraded to Outperform at Exane; PT 12.70 Euros
* Mycronic Upgraded to Buy at Danske Bank; Price Target 111 Kronor
* Novartis Upgraded to Add at AlphaValue
* Orsted Upgraded to Overweight at Morgan Stanley; PT 425 Kroner
* Pernod Ricard Upgraded to Overweight at JPMorgan; PT 145 Euros
* REN Upgraded to Neutral at MedioBanca; PT 2.50 Euros
* Retail Estates Upgraded to Buy at ING
* Umicore Upgraded to Equal-weight at Barclays; PT 37 Euros
* Vonovia Upgraded to Buy at UBS; PT 50 Euros
>>> Down
* Ablynx ADRs Downgraded to Neutral at Baird; PT $56
* Derwent London Downgraded to Neutral at Exane; PT 32.40 Pounds
* ElringKlinger Cut to Sell at Independent Research
* Enav Downgraded to Neutral at MedioBanca; PT 4.70 Euros
* LEG Immobilien Downgraded to Neutral at Exane; PT 96 Euros
* RWE Downgraded to Hold at Jefferies; PT 15 Euros
* SIAS Downgraded to Neutral at MedioBanca; PT 16.40 Euros
* Snam Downgraded to Neutral at MedioBanca; PT 4.50 Euros
>>> Initiation
* Albioma Rated New Buy at Kepler Cheuvreux; PT 23 Euros
* Altice Rated New Buy at Spin-Off Research; PT 12 Euros
* Altice USA Rated New Buy at Spin-Off Research; PT $30
* BCP Rated New Neutral at MedioBanca; PT 33 Cents
* Jackpotjoy Rated New Buy at Echelon Wealth; PT 12 Pounds
* Outotec Reinstated at Hold at DNB; PT 7.40 Euros
>>> Call