>>> Up
*ASSOCIATED BRITISH FOODS RAISED TO NEUTRAL VS SELL AT GOLDMAN
*BALOISE RAISED TO MARKET PERFORM VS UNDERPERFORM AT KBW
*BANCO DAVIVIENDA RAISED TO BUY VS NEUTRAL AT CITI
*BBVA RAISED TO EQUALWEIGHT VS UNDERWEIGHT AT BARCLAYS
*ELISA RAISED TO BUY AT NORDEA
*GALP ENERGIA RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*GEA GROUP RAISED TO BUY VS NEUTRAL AT CITI
*GRUPO AVAL RAISED TO NEUTRAL VS SELL AT CITI
*H&M RAISED TO NEUTRAL VS SELL AT GOLDMAN
*KRONES RAISED TO HOLD VS SELL AT BERENBERG
*NATIXIS RAISED TO OVERWEIGHT AT JPMORGAN
*NEXT RAISED TO NEUTRAL VS SELL AT GOLDMAN
*PUBLICIS RAISED TO OUTPERFORM AT EXANE BNP PARIBAS
*SEB RAISED TO BUY VS NEUTRAL AT UBS
*SIEMENS RAISED TO BUY VS HOLD AT LIBERUM
*STADA RAISED TO HOLD AT JEFFERIES
*UNICREDIT RAISED TO BUY VS HOLD AT HSBC
*ZURICH INSURANCE RAISED TO HOLD VS SELL AT SOCGEN; PT CHF 240
>>> Down
*DEUTSCHE BANK CUT TO UNDERWEIGHT AT SANTANDER
*SFR GROUP CUT TO HOLD VS BUY AT DEUTSCHE BANK
*SNAM CUT TO UNDERPERFORM AT MACQUARIE
*STANDARD CHARTERED CUT TO UNDERWEIGHT FROM NEUTRAL AT BARCLAYS
*SWEDBANK CUT TO NEUTRAL VS BUY AT UBS
*SYNGENTA CUT TO MARKET PERFORM AT BERNSTEIN
*TELEFONICA DEUTSCHLAND CUT TO UNDERPERFORM FROM OUTPERFORM AT EXANE
>>> PT Change
>>> Initiation
*COM HEM RATED NEW OUTPERFORM AT EXANE; PT SEK95
*DAVITA RATED NEW NEUTRAL AT CITI; PT $71
*ELISA RATED NEW NEUTRAL AT EXANE; PT EU33
*FRESENIUS RATED NEW BUY AT CITI; PT EU78
*FRESENIUS MEDICAL CARE RATED NEW BUY AT CITI; PT EU98
*MEDICLINIC RATED NEW BUY AT UBS; PT 1,170P
*PROTAGONIST THERAPEUTICS RATED NEW OVERWEIGHT AT BARCLAYS
*STRAUMANN RATED NEW SELL AT CITI; PT CHF314
*TELENOR RATED NEW UNDERPERFORM AT EXANE; PT NOK131
*YOOX NET-A-PORTER RATED NEW BUY AT BERENBERG; PT EU38
>>> Call
>> Stock
*BUZZI UNICEM ENTERS EUROPEAN RECOMMENDED PORTFOLIO AT BERNSTEIN
*MUNICH RE ADDED TO EUROPEAN RECOMMENDED PORTFOLIO AT BERNSTEIN
*PUBLICIS ADDED TO EUROPEAN RECOMMENDED PORTFOLIO AT BERNSTEIN
>> Sector
*EUROPEAN INSURANCE SECTOR RAISED FROM UNDERWEIGHT TO NEUTRAL AT BERNSTEIN