op) EFTA00371440 •••• Citi downgrades ADP FP/FHZN SW & initiates ELPE GA (neut), Natixis upgrades HOLN SW (buy) • DB upgrades LRE LN (buy) & cuts CPR LN (sell), Warburg upgrades SWVK GR (buy) ••• DnB upgrades TRYG DC, Exane BNP upgrades HOLN SW/LG FP, Equita upgrades LG FP ;••• Fidentiis upgrades BZ