>>> Up
* Catena Upgraded to Buy at Kempen & Co; PT 270 Kronor
* Duerr Upgraded to Buy at Commerzbank; PT 49 Euros
* Hugo Boss Upgraded to Neutral at Goldman; PT 64 Euros
* Indivior Upgraded to Hold at Stifel; PT 44 Pence
* Kesko Upgraded to Hold at Handelsbanken; PT 48 Euros
* Logitech Upgraded to Buy at Kepler Cheuvreux; PT 45.50 Francs
* Wacker Chemie Upgraded to Neutral at JPMorgan; PT 78 Euros
* Zalando Upgraded to Hold at SocGen; PT 43 Euros
>>> Down
* Big Yellow Group Cut to Sell at Kempen & Co; PT 9.60 Pounds
* Cramo Downgraded to Reduce at Inderes; PT 19 Euros
* Freenet Downgraded to Sell at UBS; PT 16 Euros
* Geberit Downgraded to Neutral at MainFirst; PT 470 Francs
* Kion Downgraded to Hold at Jefferies; PT 63 Euros
* Lancashire Downgraded to Hold at HSBC; PT 6.96 Pounds
* Outokumpu Downgraded to Hold at SEB Equities; PT 3.10 Euros
* Siemens Healthineers Downgraded to Neutral at Citi
* VIB Vermoegen Cut to Hold at SRC Research; Price Target 26 Euros
* Workspace Cut to Neutral at Kempen & Co; Price Target 10 Pounds
>>> Initiation
* Cyan Rated New Buy at Berenberg; PT 41 Euros
* GB Group Rated New Hold at Panmure Gordon; PT 5.74 Pounds
* Ideagen Rated New Buy at Panmure Gordon; PT 1.65 Pounds
* IQE Rated New Buy at Panmure Gordon; PT 1.20 Pounds
* John Laing Group Rated New Outperform at Macquarie
* Kainos Rated New Hold at Panmure Gordon; PT 5.30 Pounds
* Learning Tech Rated New Buy at Panmure Gordon; PT 1.10 Pounds
* Network International Holdings Rated New Buy at Berenberg
* Nordic Entertainment Group New Equal-weight at Morgan Stanley
* SIG Combibloc Group Rated New Hold at Bank Vontobel
>>> Call
* Freenet Upside Now Price In, Still Cautious on Fundamentals: UBS