>>> Up
* Bankia Upgraded to Neutral at Credit Suisse; PT 2.90 Euros
* Enel Upgraded to Hold at HSBC; PT 5.10 Euros
* Kesko Upgraded to Reduce at Inderes; PT 48 Euros
* Neurones Raised to Buy at Midcap Partners; Price Target 28 Euros
* Orange Belgium Upgraded to Buy at ING; Price Target 21 Euros
* Thales Upgraded to Buy at Citi
* Travis Perkins Upgraded to Outperform at RBC; PT 15.50 Pounds
* UniCredit Upgraded to Buy at Citi
>>> Down
* Alstom Cut to Hold at Kepler Cheuvreux; Price Target 38.50 Euros
* Assura Downgraded to Hold at Liberum
* Cellavision Cut to Sell at Pareto Securities; PT 245 Kronor
* Centrica Downgraded to Neutral at Citi
* DKSH Downgraded to Underperform at MainFirst; PT 62 Francs
* DWS Downgraded to Hold at Pareto Securities; PT 26 Euros
* Fiat Chrysler Downgraded to Equal-weight at Barclays
* Fiskars Downgraded to Reduce at Inderes; PT 18.60 Euros
* GEA Group Downgraded to Neutral at Credit Suisse; PT 21 Euros
* *GRIFOLS A SHARES CUT TO HOLD AT BERENBERG; B SHARES REMAIN BUY
* HolidayCheck Downgraded to Reduce at HSBC; PT 2.80 Euros
* Infineon Downgraded to Hold at Nord/LB; PT 21 Euros
* Norsk Hydro Cut to Hold at Pareto Securities; PT 40 Kroner
* Outokumpu Downgraded to Reduce at AlphaValue
* Proximus Downgraded to Sell at ING; PT 18 Euros
* Rio Tinto ADRs Downgraded to Underperform at CLSA
* Telenet Downgraded to Hold at ING; PT 42 Euros
* Unite Group Downgraded to Hold at Liberum
* Zurich Ins. Cut to Neutral at Mediobanca SpA; PT 351 Francs
>>> Initiation
* DS Smith Resumed at Citi With Buy
* Engie Reinstated at Barclays With Overweight; PT 16.50 Euros
>>> Call