>>> Up
*ADIDAS RAISED TO HOLD VS SELL AT BERENBERG
*BBVA RAISED FROM UNDERPERFORM AT RBC
*BNP PARIBAS RAISED TO OUTPERFORM AT RBC CAPITAL
*DEUTSCHE BANK RAISED TO OUTPERFORM AT RBC CAPITAL
*FRESENIUS MEDICAL RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*FRESENIUS MEDICAL RAISED TO BUY VS NEUTRAL AT UBS
*NEXANS RAISED TO CONVICTION BUY VS NEUTRAL AT GOLDMAN
*PUMA RAISED TO BUY VS HOLD AT BERENBERG
*RBS RAISED TO OUTPERFORM AT RBC CAPITAL
*SILTRONIC RAISED TO BUY VS NEUTRAL AT CITI
*SOCGEN RAISED FROM UNDERPERFORM AT RBC
*SWEDBANK RAISED FROM UNDERPERFORM AT RBC
*TRAVIS PERKINS RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*VOLKSWAGEN RAISED FROM HOLD TO BUY AT KEPLER CHEUVREUX, TP RAISED FROM 111 to 160 (Note attached)
>>> Down
*ABERDEEN ASSET CUT TO UNDERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*ATLAS COPCO CUT TO SELL VS NEUTRAL AT GOLDMAN (Note attached)
*BAYER CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*CARL ZEISS MEDITEC CUT TO UNDERWEIGHT AT JPMORGAN (YDAY)
*FINCANTIERI CUT TO SELL VS NEUTRAL AT GOLDMAN
*GAME DIGITAL CUT TO HOLD VS BUY AT HSBC
*ING GROUP CUT TO SECTOR PERFORM AT RBC CAPITAL
*METSO OYJ CUT TO SELL, ADDED TO CONVICTION LIST: GOLDMAN
*NOKIAN DOWNGRADED TO HOLD FROM BUY AT KEPLER CHEUVREUX
*SANTANDER CUT TO UNDERPERFORM VS SECTOR PERFORM AT RBC
*TECHNIP CUT TO MARKET PERFORM VS OUTPERFORM AT BERNSTEIN
*USG PEOPLE CUT TO HOLD VS BUY AT HSBC
>>> PT Change
*SONOVA PT RAISED FROM CHF126 TO CHF163 AT JPM
>>> Initiation
*ABN AMRO RATED BUY IN NEW COVERAGE AT ING; PT AT EU23
*AMUNDI RATED NEW NEUTRAL AT ODDO
*JARDINE LLOYD RATED NEW BUY AT HSBC, PT 1,020P
*SANDVIK RATED NEW NEUTRAL AT GOLDMAN
>>> Call
>> Country
*U.S. EQUITIES CUT TO UNDERWEIGHT AT CITI