>>> Up
* Axel Springer Raised to Overweight at Barclays
* Credit Suisse Raised to Neutral at MainFirst, PT CHF15
* Intu Raised to Hold at SocGen, PT 280p
* Ryanair Raised to Buy at HSBC, PT EU19.50
* SSAB Raised to Neutral at JPMorgan, PT SEK41
* Segro Raised to Buy at SocGen, PT 560p
>>> Down
* Derwent London Cut to Sell at SocGen, PT 2,520p
* Dick's Sporting Cut to Market Perform at Telsey
* Eurofins Scientific Cut to Hold at Jefferies, PT EU530
* Liberty Global LiLAC Cut to Sector Perform at RBC, PT $28.50
* SDL Cut to Neutral at Citi, PT 670p
* Tele2 Cut to Hold at Kepler Cheuvreux, PT SEK105
* Telekom Austria Cut to Neutral at Macquarie
* Trilogiq Cut to Reduce at Euroland Corporate, PT EU8.10
>>> Initiation
* Beiersdorf New Hold at Jefferies, PT EU96
* Cobham Reinstated Equal-weight at Barclays
* Essentra New Add at Peel Hunt, PT 585p
* Henkel New Buy at Jefferies, PT EU150
* InterContinental Reinstated Buy at BofAML, PT 4,800p
* Ladbrokes Coral New Buy at BofAML, PT 143p
* L'Oreal New Hold at Jefferies, PT EU205
* Rockhopper Exploration New Sector Perform at RBC