>>> Up
* Axa Upgraded to Outperform at KBW; PT 28 Euros
* GE Upgraded to Overweight at Barclays; Price Target $16
* Henkel Upgraded to Buy at Goldman; PT 120 Euros
* Iliad Upgraded to Neutral at Macquarie; PT 100 Euros
*
* Intu Upgraded to Buy at Citi
* Mediclinic Upgraded to Buy at Investec
* Norsk Hydro Upgraded to Buy at Goldman; PT 55 Kroner
>>> Down
* Boskalis Downgraded to Sell at ABN Amro Bank
* Ceconomy Downgraded to Add at AlphaValue
* IAG Downgraded to Neutral at Citi
* Industrivarden Downgraded to Hold at DNB Markets; PT 205 Kronor
* Quiz Downgraded to Hold at Peel Hunt; PT 1.05 Pounds
* Tesco Downgraded to Add at AlphaValue
* Vodafone Downgraded to Hold at Jefferies; PT 1.65 Pounds
>>> Initiation
* Keywords Studios Rated New Buy at Jefferies; PT 23.52 Pounds
* Kitron Rated New Buy at SEB Equities; PT 11 Kroner
* NN Rated New Neutral at Baird; PT $17
* Starrag Group Holding Rated New Hold at Research Partners
>>> Call