** UPS & DOWNS **

+ VEDIOR RAISED TO `BUY’ FROM `ADD’ AT ABN AMRO
+ VEDIOR PRICE EST. RAISED 24% TO EU17 AT MORGAN STANLEY
+ ERICSSON PRICE EST. RAISED 6.7% TO SK32 AT CREDIT SUISSE
+ PFIZER PRICE ESTIMATE RAISED 11% TO $30 AT MORGAN STANLEY
+ SALZGITTER RAISED TO `IN-LINE’ VS. `UNDERPERFORM’ AT GOLDMAN
+ HONEYWELL RAISED TO `BUY’ FROM `HOLD’ AT CITIGROUP
+ DAIMLERCHRYSLER PRICE ESTIMATE RAISED 16% TO EU52 AT JPMORGAN
+ SHELL PRICE EST RAISED TO EU30.2 PER SHARE AT JPMORGAN
+ ALCATEL PRICE ESTIMATE RAISED TO EU13 FROM EU12 AT JPMORGAN
+ ALCATEL PRICE ESTIMATE RAISED TO EU14 FROM EU12 AT CITIGROUP
+ RIO TINTO PRICE ESTIMATE RAISED TO 3,250P AT CITIGROUP

– ACERINOX CUT TO `UNDERPERFORM’ VS. `IN-LINE’ AT GOLDMAN – AMAZON.COM PRICE ESTIMATE CUT 11% TO $34 AT CITIGROUP – THOMSON PRICE EST. CUT TO EU16 FROM EU19 AT ING – CENTRICA CUT TO `HOLD’ FROM `BUY’ AT ING – SHELL CUT TO `EQUAL WEIGHT’ AT MORGAN STANLEY