>>> Up
*Gas Natural Raised to Neutral at BPI, PT EU22.35
*Kraft Heinz Raised to Overweight at Consumer Edge Research
*Linde Raised to Buy at HSBC, PT EU179
*Osram Raised to Buy at Nord/LB, PT EU70
*Pernod Ricard Raised to Neutral at Macquarie, PT EU117
*Red Electrica Raised to Outperform at RBC, PT EU19.50
>>> Down
*Erste Cut to Hold at HSBC, PT EU35
*Italgas Cut to Underperform at RBC, PT EU4.25
*Kinepolis Cut to Hold at ING, PT EU49
*Korian Cut to Hold at SocGen
*National Grid Cut to Sector Perform at RBC
*Natixis Cut to Neutral at Exane, PT EU5.80
*Sistema Cut to Equal-weight at Morgan Stanley
*Symrise Cut to Neutral at MainFirst, PT EU68
*Terna Cut to Underperform at RBC, PT EU4.75
*Wolters Kluwer Cut to Hold at Deutsche Bank
>>> Initiation
*Anima New Outperform at MainFirst, PT EU7.10
*Aumann New Hold at Hauck & Aufhaeuser, PT EU65
*Azimut Holding New Neutral at MainFirst, PT EU20
*FinecoBank New Outperform at MainFirst, PT EU7.90
*Mediolanum New Neutral at MainFirst, PT EU7.70
>>> Call
>> Stock
*GAM HOLDING ADDED TO TOP PICKS LIST AT BAADER HELVEA