UG AV to CL buy, BofAML adds BAY GY to Europe list ••• Commerzbank Steel Sector: (downgrade SZG GY & VOE AV), Barclays downgrades FUM1V FH, VER AV, SPM IM & upgrades TEC FP • BofAML: Consumer Staples & Luxury (most pref: SAB LN, DGE LN, CFR VX / Least pref HEIA NA, CPR IM, ULVR LN) ▪ DB downgrades PC I