>>> Up
* Akzo Nobel Raised to Outperform at Credit Suisse; PT 82.50 Euros
* Atresmedia Upgraded to Neutral at BPI; PT 9.25 Euros
* Bpost Upgraded to Overweight at Morgan Stanley; PT 31 Euros
* Chr. Hansen Upgraded to Buy at Goldman
* EDP Renovaveis Upgraded to Buy at Haitong; PT 8 Euros
* Endesa Upgraded to Buy at Haitong; PT 19.40 Euros
* Iberdrola Upgraded to Buy at Haitong; PT 7.50 Euros
* Intesa Upgraded to Overweight at JPMorgan; PT 3.70 Euros
* Lundin Petroleum Upgraded to Neutral at SpareBank; PT 195 Kronor
* Mediaset Espana Upgraded to Neutral at BPI; PT 10.70 Euros
* Munich Re Upgraded to Buy at Jefferies
* Rentokil Upgraded to Outperform at Credit Suisse; PT 3.30 Pounds
* Spectris Upgraded to Overweight at JPMorgan; PT 29 Pounds
* SQM ADRs Upgraded to Overweight at JPMorgan
* Tapestry Upgraded to Overweight at Piper Jaffray; PT $54
>>> Down
* Allianz Downgraded to Hold at Jefferies
* Banca Carige Cut to Neutral at Hammer Partners SA; PT 1 Cent
* Capita Downgraded to Hold at HSBC; PT 2 Pounds
* Credit Suisse Cut to Neutral at Hammer Partners SA
* CTT Downgraded to Underweight at Morgan Stanley; PT 3.60 Euros
* Deutsche Bank Cut to Underperform at MainFirst; PT 12 Euros
* DIA Downgraded to Equal-weight at Barclays; PT 4.40 Euros
* Generali Cut to Neutral at Hammer Partners SA; PT 17.10 Euros
* Helvetia Downgraded to Neutral at Goldman; PT 580 Francs
* Intesa Cut to Neutral at Hammer Partners SA; PT 3.10 Euros
* Jenoptik Cut to Hold at M.M. Warburg; Price Target 31 Euros
* Lindt & Spruengli Cut to Sell at Goldman; PT 60,000 Francs
* MegaFon GDRs Upgraded to Outperform at Credit Suisse; PT $14
* Mobile TeleSystems ADRs Cut to Neutral at Credit Suisse; PT $14
* Santander Cut to Neutral at Hammer Partners SA; PT 6.30 Euros
* Snap Upgraded to Outperform at RBC; PT $21
* Unicaja Banco Cut to Reduce at Kepler Cheuvreux; PT 1.32 Euros
>>> Initiation
* Apple Rated New Neutral at Goldman; PT $161
* Juniper Rated New Neutral at Goldman; PT $26
>>> Call