>>> Up
* AB Foods Upgraded to Buy at Berenberg
* Ferrexpo Upgraded to Overweight at Barclays; PT 3 Pounds
* Korian Upgraded to Outperform at Credit Suisse
* Mercialys Upgraded to Neutral at Kempen & Co; PT 14 Euros
* Merlin Upgraded to Buy at Kempen & Co; Price Target 13.40 Euros
* Shaftesbury Upgraded to Neutral at Kempen & Co; PT 9.50 Pounds
* Swisscom Raised to Equal-weight at Morgan Stanley; PT 515 Francs
* Telekom Austria Raised to Accumulate at Erste Group; PT 8 Euros
* Tullow Upgraded to Buy at Citi
>>> Down
* Norsk Hydro Downgraded to Neutral at JPMorgan; PT 40.50 Kroner
* Saipem Downgraded to Neutral at Citi
* Spire Healthcare Downgraded to Underperform at Jefferies
* Sunrise Cut to Underweight at Morgan Stanley; PT 95 Francs
* Swedbank Downgraded to Neutral at JPMorgan; PT 210 Kronor
>>> Initiation
* A2A Reinstated at Goldman With Neutral; PT 1.60 Euros
* Accor Reinstated at Exane With Neutral; PT 42 Euros
* Akzo Nobel Rated New Outperform at Exane; PT 99 Euros
* Alfen Beheer BV Rated New Buy at Berenberg
* Arkema Rated New Outperform at Exane; PT 144 Euros
* BASF Rated New Outperform at Exane; PT 100 Euros
* CFT Rated New Buy at Corporate Family Office; PT 11.10 Euros
* Clariant Rated New Neutral at Exane; PT 28 Francs
* Croda Rated New Outperform at Exane; PT 58.10 Pounds
* DSM Rated New Neutral at Exane; PT 100 Euros
* Evonik Rated New Underperform at Exane; PT 34 Euros
* Gecina Rated New Overweight at Barclays; PT 168 Euros
* ICADE Rated New Equal-weight at Barclays; PT 80 Euros
* InterContinental Reinstated Outperform at Exane; PT 53.30 Pounds
* Johnson Matthey Rated New Neutral at Exane; PT 37 Pounds
* Lanxess Rated New Neutral at Exane; PT 74 Euros
* Neste Rated New Outperform at RBC
* RHI Magnesita Rated New Buy at Berenberg
* Solvay Rated New Neutral at Exane; PT 134 Euros
* STV Group Rated New Buy at Shore Capital
* Tekcapital Rated New Corporate at Finncap; PT 19 Pence
* Vesuvius Rated New Hold at Berenberg
* Yara Rated New Neutral at Exane; PT 440 Kroner
* Wacker Chemie Rated New Neutral at Exane; PT 130 Euros
* Whitbread Reinstated at Exane With Neutral; PT 46.60 Pounds
>>> Call