>>> Up
*Alfa Laval Raised to Outperform at Credit Suisse; PT 230 Kronor
* Bunge Upgraded to Overweight at JPMorgan; PT Set to $90
* Gas Natural Upgraded to Buy at HSBC; PT 20.50 Euros
* Informa Upgraded to Add at Peel Hunt; PT 7.40 Pounds
* Puma SE Upgraded to Buy at Goldman; PT 420 Euros
* Saipem Upgraded to Hold at Fidentiis Equities
* Veolia Upgraded to Buy at SocGen; PT 23.50 Euros
>>> Down
* Ceconomy Downgraded to Underweight at Morgan Stanley; PT 8 Euros
* DIA Downgraded to Underperform at BPI; PT 3.80 Euros
* Diageo Downgraded to Neutral at Natixis
* Hunting Downgraded to Market Perform at Bernstein
* International Paper Cut to Market Perform at Wells Fargo; PT $60
* Lukoil GDRs Downgraded to Equal-weight at Morgan Stanley; PT $69
* Netflix Downgraded to Hold at Stifel; PT $325
* Ontex Downgraded to Hold at Berenberg
* Smurfit Kappa Downgraded to Neutral at Goldman
>>> Initiation
* Derichebourg Rated New Buy at Kepler Cheuvreux; PT 9 Euros
* GEDI Gruppo Editoriale Rated New Outperform at Intermonte
* HanseYachts Rated New Buy at Berenberg; PT 11.70 Euros
* Legrand Downgraded to Neutral at Credit Suisse; PT 71 Euros
* Maisons du Monde Rated New Buy at IDMidcaps; PT 43 Euros
* Oriflame Rated New Buy at William O'Neil & Co Incorporated
* VolkerWessels Assumed at NIBC With Accumulate; PT 24.50 Euros
>>> Call