>>> Up
* DWS Upgraded to Neutral at JPMorgan; PT 35 Euros
* Kesko Upgraded to Accumulate at Inderes; Price Target 48 Euros
* Mosaic Upgraded to Overweight at JPMorgan; PT $27
* Paddy Power Upgraded to Outperform at Davy
* Saab Upgraded to Buy at Jefferies; PT 365 Kronor
* SES GDRs Upgraded to Overweight at JPMorgan; PT 21.50 Euros
* Swatch Upgraded to Equal-weight at Morgan Stanley; PT 270 Francs
>>> Down
* ASMI Downgraded to Hold at Kepler Cheuvreux; PT 60 Euros
* Baloise Cut to Neutral at JPMorgan; Price Target 190 Francs
* CaixaBank Cut to Underperform at Mediobanca SpA; PT 3 Euros
* Endesa Downgraded to Neutral at MainFirst; PT 23 Euros
* EssilorLuxottica Downgraded to Sell at Citi
* Henkel Downgraded to Add at AlphaValue
* Infineon Downgraded to Sell at Bankhaus Metzler; PT 18 Euros
* Outokumpu Downgraded to Add at AlphaValue
* Restaurant Group Downgraded to Hold at Peel Hunt
* Westwing Group Downgraded to Neutral at Citi
* Zalando Downgraded to Hold at Quirin Privatbank AG; PT 40 Euros
>>> Initiation
* Almirall Reinstated at Goldman With Buy; PT 18.50 Euros
* Alpha Finl Markets Rated New Outperform at RBC; PT 3.70 Pounds
* Do & Co Rated New Buy at Berenberg; PT 100 Euros
* Nexi Rated New Outperform at Intermonte; PT 10.20 Euros
* River & Mercantile Rated New Outperform at Macquarie
* Smart Metering Rated New Buy at Liberum
>>> Call