>>> Up
* Arjo Upgraded to Buy at SEB Equities; PT 40 Kronor
* H&M Upgraded to Buy at HSBC; PT 225 Kronor
>>> Down
* Atlas Copco Downgraded to Sell at DNB Markets; PT 275 Kronor
* Boku Rated New Buy at Stifel; PT 1.40 Pounds
* Carl Zeiss Meditec Cut to Hold at Hauck & Aufhaeuser
* Hexagon Downgraded to Sell at Goldman; PT 415 Kronor
* Marks & Spencer Downgraded to Reduce at HSBC; PT 1.50 Pounds
* Siemens Gamesa Downgraded to Add at AlphaValue
* Verbund Downgraded to Reduce at Oddo BHF; PT 45 Euros
>>> Initiation
* Adidas Reinstated at Exane With Neutral; PT 285 Euros
* Altia Rated New Hold at SEB Equities; PT 8.20 Euros
* JD Sports Rated New Outperform at Exane; PT 8.30 Pounds
>>> Call
* Aryzta Could Bounce Even Though Picard Price Is Low: Vontobel
* Casino PT Cut on Probable 3Q Slowdown, Bid Doubt: Deutsche Bank