>>> Up
* Babcock Upgraded to Neutral at Citi
* Generali Upgraded to Neutral at Goldman; PT 16 Euros
* ICADE Upgraded to Neutral at JPMorgan; PT 89 Euros
* Ingenico Group Upgraded to Add at AlphaValue
* LafargeHolcim Upgraded to Buy at Kepler Cheuvreux; PT 53 Francs
* Orange Belgium Upgraded to Buy at SocGen; PT 22 Euros
>>> Down
* Adecco Downgraded to Sell at Goldman; PT 51 Francs
* Antofagasta Downgraded to Neutral at Macquarie; PT 9.45 Pounds
* BASF Downgraded to Neutral at JPMorgan; PT 59 Euros
* Central Asia Metals Cut to Neutral at Macquarie; PT 2.10 Pounds
* Chr. Hansen Downgraded to Sell at Berenberg; PT 575 Kroner
* Intertek Downgraded to Sell at Goldman; Price Target 54 Pounds
* Just Eat Downgraded to Hold at Berenberg
* Randstad Downgraded to Sell at Goldman; PT 45 Euros
>>> Initiation
* Alpha Finl Markets Rated New Outperform at Macquarie
* ASML Rated New Buy at SocGen; PT 220 Euros
* Banco BPM Rated New Neutral at MainFirst; PT 2.10 Euros
* BPER Banca Rated New Neutral at MainFirst; PT 4.15 Euros
* UBI Banca Rated New Outperform at MainFirst; PT 3.10 Euros
>>> Call