>>> Up
* Hays Upgraded to Buy at HSBC; PT 1.90 Pounds
* Legal & General Upgraded to Buy at Deutsche Bank
* Lundin Petroleum Upgraded to Sector Perform at RBC
* Mediclinic Upgraded to Overweight at JPMorgan; PT 3.94 Pounds
* Petrofac Upgraded to Buy at Jefferies; PT 5.90 Pounds
* Publicis Upgraded to Buy at Pivotal
* SKF Upgraded to Equal-weight at Morgan Stanley
* SSP Upgraded to Equal-weight at Morgan Stanley
* Tullow Upgraded to Outperform at RBC
* Yara Upgraded to Buy at Citi (Double)
>>> Down
* ASR Nederland Cut to Reduce at Kepler Cheuvreux; PT 33.60 Euros
* Autoliv Downgraded to Market Perform at BMO; PT $79
* BMW Downgraded to Underweight at JPMorgan; Price Target 75 Euros
* Centrica Downgraded to Hold at Jefferies
* EnQuest Downgraded to Underperform at RBC
* Gestamp Downgraded to Neutral at JPMorgan; PT 5.70 Euros
* HSBC Cut to Sell at Citi on Trading Income, Competition Concerns
* InterContinental Hotels Cut to Underweight at Morgan Stanley
* Lagardere Downgraded to Neutral at Goldman; PT 23.80 Euros
* Michelin Downgraded to Neutral at JPMorgan; PT 105 Euros
* Nokian Renkaat Cut to Underweight at JPMorgan; PT 32 Euros
* Pirelli Downgraded to Neutral at JPMorgan; PT 7 Euros
* St James's Place Downgraded to Hold at Deutsche Bank
* Standard Life Aberdeen Downgraded to Hold at Deutsche Bank
* Volvo Downgraded to Add at AlphaValue
* Volvo Downgraded to Neutral at JPMorgan; PT 150 Kronor
>>> Initiation
*
>>> Call