>>> Up
*ALCATEL-LUCENT RAISED TO BUY VS NEUTRAL AT UBS
*ERICSSON RAISED TO BUY VS NEUTRAL AT UBS
*FRAPORT RAISED TO HOLD VS REDUCE AT HSBC
*IMPERIAL TOBACCO RAISED TO BUY VS HOLD AT BERENBERG
*NOKIA RAISED TO BUY VS NEUTRAL AT UBS
*NORSK HYDRO RAISED TO OVERWEIGHT AT MORGAN STANLEY
>>> Down
*DUFRY CUT TO SELL AT CITI
*TELENOR CUT TO HOLD VS BUY AT BERENBERG
>>> PT Change
>>> Initiation
*REFRESCO GERBER RATED NEW NEUTRAL AT JPMORGAN, PT EU14
>>> Call