>>> Up
* ASML PT Raised to 845 euros from 670 euros at Berenberg
* Erste Raised to Buy at Deutsche Bank; PT 42 euros
* Pirelli Raised to Buy at HSBC; PT 6.30 euros
>>> Down
* Catena Cut to Hold at Handelsbanken; PT 560 kronor
* Hellenic Telecom Cut to Neutral at Goldman; PT 18.60 euros
* NOS Cut to Neutral at Goldman; PT 3.90 euros
* Platzer Cut to Sell at Handelsbanken; PT 150 kronor
* Siemens Energy Cut to Neutral at JPMorgan; PT 29 euros
* Siemens Gamesa Cut to Neutral at JPMorgan; PT 26 euros
* Schindler Cut to Hold at HSBC; PT 310 Swiss francs
* Stendorren Fastigheter Cut to Hold at Handelsbanken
* Vantage Towers Cut to Hold at Berenberg; PT 33 euros
>>> Initiation
* Almirall Rated New Overweight at Morgan Stanley; PT 18 euros
* BT Reinstated Market Perform at Bernstein; PT 170 pence
* Cellnex Rated New Outperform at Bernstein; PT 68 euros
* Deutsche Telekom Reinstated Outperform at Bernstein
* Forward Partners Group Rated New Buy at Liberum; PT 132 pence
* IronRidge Resources Rated New Buy at Liberum; PT 32 pence
* Orange Reinstated Market Perform at Bernstein; PT 10.80 euros
* Philips Reinstated Buy at Jefferies; PT 55 euros
* Philips ADRs Rated New Buy at Jefferies; PT $66
* Siemens Healthineers ADRs Rated New Hold at Jefferies; PT $33
* Siemens Healthineers Reinstated Hold at Jefferies; PT 53 euros
* Sparebank 1 Oestlandet Rated New Buy at Arctic Securities
* Telefonica Reinstated Market Perform at Bernstein; PT 4.60 euros
* Telia Rated New Market Perform at Bernstein; PT 41.70 kronor
* Vodafone Reinstated Outperform at Bernstein; PT 155 pence
>>> Call
* Almirall Overweight at Morgan Stanley on Growth Uplift Potential
* Bernstein Positive on Telco Infrastructure, Cellnex Outperform
* Gamesa Cut on Earnings Risk, Siemens Energy Downgraded: JPMorgan
* Infineon, ASML Well-Positioned for China Semi Growth: Berenberg
* Philips a Buy on Overdone Selloff, Healthineers Hold: Jefferies
* Pirelli Raised at HSBC With Concerns Addressed, Michelin Key Buy
* Ferragamo 2Q Strong Margin Development Likely to Reassure: Citi
* U.S. Stocks Cut to Underweight at Morgan Stanley on Higher Risk