>>> Up
* BASF Raised to Hold at Berenberg
* Hilton Raised to Hold at Berenberg
* Julius Baer Raised to Hold at Kepler Cheuvreux, PT CHF55
* Kloeckner Raised to Buy at Kepler Cheuvreux, PT EU11
* Severn Trent Raised to Outperform at RBC, PT 2,650p
* United Utilities Raised to Outperform at RBC, PT 1,050p
* Wolseley Raised to Outperform at RBC, PT 5,200p
>>> Down
* Cementir Holding Cut to Neutral at MedioBanca, PT EU6.40
* DIA Cut to Underweight at Morgan Stanley, PT EU5.50
* Econocom Cut to Hold at ING
* Heineken Cut to Hold at Bank Degroof Petercam, PT EU83
* Hertz Cut to Underweight at Barclays, PT $9
* Mapfre Cut to Neutral at JPMorgan, PT EU3.15
* Schroders Cut to Neutral at Citi
* Somfy Cut to Neutral at Natixis
* Telekom Austria Cut to Sell at Citi
>>> Initiation
* Autogrill New Outperform at Raymond James, PT EU12
* Evry New Buy at Goldman, PT NOK38
* Evry New Overweight at Morgan Stanley, PT NOK35
>>> Call
>> Stock
* ADECCO ADDED TO CITI FOCUS LIST EUROPE
* DEUTSCHE POST REMOVED FROM CITI FOCUS LIST EUROPE
>> Sector
* BANKING SECTOR RAISED TO OVERWEIGHT VS NEUTRAL AT NATIXIS
* CAPITAL GOODS SECTOR RAISED TO OVERWEIGHT VS NEUTRAL AT NATIXIS
* CHEMICALS SECTOR RAISED TO OVERWEIGHT AT NATIXIS
* ENERGY SECTOR RAISED TO NEUTRAL VS UNDERWEIGHT AT NATIXIS
* INDUSTRY SECTOR RAISED TO OVERWEIGHT VS NEUTRAL AT NATIXIS
* LUXURY GOODS CUT TO UNDERWEIGHT VS OVERWEIGHT AT NATIXIS
* PHARMACEUTICALS CUT TO NEUTRAL VS OVERWEIGHT AT NATIXIS