pgrades MEDAA SS ••• Raja upgrades ITX SM, Espirito downgrades KD8 GY, Peel Hunt initiates STGR LN (buy), RBC upgrades GFS LN ••• SocGen downgrades IAP LN, Natixis upgrades KBC BB &ARM LN Reporting Pre-Open: GIS, MON, LNN, PKE, UNF EFTA00388345 Reporting Post-Close: PAYX, BBBY, CWST, FUL, MLHR, PRGS