>>> Up
* Arkema Raised to Neutral at JPMorgan; PT 92 euros
* Credit Agricole Raised to Outperform at BNPP Exane; PT 17 euros
* FinecoBank Raised to Buy at Jefferies; PT 16.30 euros
* Heidelberg Materials PT Raised to 138.60 euros at Jefferies
* Michelin Raised to Buy at HSBC; PT 40 euros
* Pirelli Raised to Buy at HSBC; PT 6.40 euros
* Salmar Raised to Buy at SpareBank; PT 655 kroner
* Shaftesbury Capital PT Raised to 208 pence at Citi
* Ubisoft Raised to Buy at Jefferies; PT 29 euros
>>> Down
* Direct Line Cut to Neutral at JPMorgan; PT 210 pence
* JPMorgan Cut to Peerperform at Wolfe
* Raymond James Cut to Peerperform at Wolfe
* Spirit Aero Cut to Neutral at JPMorgan; PT $37
* State Street Cut to Underperform at Wolfe; PT $73
>>> Initiation
* Elektro Importoren Rated New Buy at SpareBank; PT 15 kroner
* Emerson Electric Rated New Buy at Redburn; PT $135
* Rockwell Automation Rated New Neutral at Redburn; PT $256
>>> Call
* FinecoBank Raised to Buy at Jefferies Following Underperformance
* Goldman Strategists See Sales Growth Driving European Profits
* Melrose Industries Raised at RBC, Fundamentals Still Supportive
* National Grid Is Now Morgan Stanley’s Top Network Pick
* Ubisoft Double-Upgraded at Jefferies on Re-Rating Potential