BN VX, Akros initiates ANIM IM (accumulate), CBK downgrades WCH GY • Rabobank upgrades ARCAD NA, Danske upgrades MAERSKB DC & LUN DC and downgrades KCR1V FH, CS downgrades MGNT LI ••• Natixis downgrades FUM1V FH, Fidentis initiates INW IM (buy), DNB upgrades HPOLB SS, Numis initiates DNL LN (buy) • MS

nmure upgrades CCC LN, BofA initiates DLG GY (up), Barclays initiates PA/ LN (ow) ••• Citi initiates GET FP (buy), CS upgrades RWE GY, HSBC upgrades KCR1V FH, Natixis upgrades SBO AV ••• JPM adds LAND LN to focus list, Main First upgrades SREN VX, Swedbank upgrades MEDAA SS ••• Raja upgrades ITX SM, Espi