>>> Up
* ACS Raised to Equal-Weight at Morgan Stanley; PT 32 euros
* BASF Raised to Buy at MainFirst; PT 64 euros
* Capital & Counties Raised to Buy at Peel Hunt; PT 180 pence
* Close Brothers Raised to Add at Peel Hunt
* KBC Group Raised to Buy at Deutsche Bank; PT 56 euros
* K+S Raised to Sector Outperform at Scotiabank; PT 9.50 euros
* Lindt & Spruengli Raised to Hold at MainFirst
* Network International Raised to Overweight at JPMorgan
* Pirelli Raised to Buy at MainFirst; PT 4.45 euros
* ProSieben Raised to Buy at Goldman; PT 14.60 euros
* SBM Offshore Raised to Buy at SocGen; PT 18 euros
* Shaftesbury Raised to Add at Peel Hunt; PT 600 pence
>>> Down
* Cairn Energy Cut to Add at Peel Hunt; PT 159 pence
* Gurit Cut to Reduce at Baader Helvea; PT 2,050 Swiss francs
* Novozymes Cut to Sell at Berenberg; PT 350 kroner
* PostNL Cut to Hold at ABN Amro Bank; PT 3 euros
* Rexel Cut to Neutral at Citi
* Saint-Gobain Cut to Neutral at Citi
* Sinch Cut to Sell at Handelsbanken; PT 800 kronor
* Veolia Cut to Reduce at AlphaValue
>>> Initiation
* Amplifon Rated New Buy at Citi; PT 36.40 euros
* Biffa Rated New Buy at Berenberg; PT 270 pence
* Demant Rated New Neutral at Citi; PT 220 kroner
* GN Store Nord Rated New Buy at Citi; PT 590 kroner
* MJ Gleeson Rated New Buy at Panmure Gordon; PT 950 pence
* Siemens Energy Rated New Buy at HSBC; PT 31 euros
* Sonova Rated New Neutral at Citi; PT 240 Swiss francs
>>> Call
* Citi Continues to Prefer Soft Drinks and Beer to Spirits Stocks
* ACS Loses Only Sell, Unit Sale Limits Downside: Morgan Stanley
* Biffa a Strong ESG and Growth Play, Berenberg Initiates at Buy
* Capco, Shaftesbury Raised, London Attractions Remain: Peel Hunt
* Embracer Adds ‘Firepower’ Via Stake Sale, Placement: Citi