>>> Up
*Actelion Raised to Overweight at JPMorgan, PT CHF292
*Aldermore Group Raised to Buy at Peel Hunt
*CentralNic Group Raised to Buy at Peel Hunt
*Direct Line Raised to Neutral at Macquarie
*Infineon Raised to Buy at Kepler Cheuvreux, PT EU20
*Just Eat Raised to Overweight at Barclays
*Norsk Hydro Raised to Buy at Goldman, PT NOK60
*Novartis Raised to Buy at SocGen
*RAI Way Raised to Outperform at MainFirst, PT EU5
*Umicore Raised to Buy at Berenberg, PT EU56
>>> Down
*BT Cut to Neutral at Goldman
*Bucher Cut to Hold at Kepler Cheuvreux
*Go-Ahead Cut to Sector Perform at RBC, PT 1925p
*NH Hotel Group Cut to Reduce at Intermoney Valores, PT EU4.20
*Randgold Cut to Underperform at RBC, PT 5900p
*Sulzer Cut to Reduce at HSBC, PT CHF94
>>> Initiation
*Air France-KLM Rated New Outperform at Main First Bank AG
*AstraZeneca Rated New Overweight at Barclays
*Deutsche Bank Resumed Hold at HSBC, PT EU16
*EasyJet Rated New Underperform at Main First Bank AG, PT 700p
*Glaxo Rated New Equal-Weight at Barclays
*IAG Rated New Outperform at Main First Bank AG, PT EU8.50
*Lufthansa Rated New Outperform at Main First Bank AG, PT EU17
*Novartis Rated New Underweight at Barclays
*Roche Rated New Overweight at Barclays
*Ryanair Rated New Neutral at Main First Bank AG, PT EU15
*Sanofi Rated New Underweight at Barclays
*Shire Rated New Overweight at Barclays
>>> Call
>> Stock
*VODAFONE ADDED TO CONVICTION LIST AT GOLDMAN; WAS BUY
*KPN REMOVED FROM CONVICTION LIST AT GOLDMAN; STAYS BUY