>>> Up
* Elmera Group ASA Raised to Buy at Pareto Securities
* Fastighets AB Trianon Raised to Hold at Handelsbanken
* Sievi Capital Raised to Buy at Inderes; PT 1.80 euros
* SR-Bank Raised to Buy at Arctic Securities; PT 137 kroner
>>> Down
* Addex Therapeutics Cut to Add at Baader Helvea
* Centrica Cut to Reduce at HSBC; PT 70 pence
* Peab Cut to Hold at Handelsbanken
* Rathbones Group Cut to Hold at Jefferies; PT 2,100 pence
* Sparebanken Vest Cut to Hold at Arctic Securities; PT 100 kroner
>>> Initiation
* Nexus Rated New Outperform at Exane; PT 65 euros
* Petrofac Reinstated Buy at Goldman; PT 170 pence
>>> Call
* Banco BPM Outlook Encouraging, Core Revenue Solid: Jefferies