>>> Europe : Brokers Upgrades & Downgrades - 10th of July 2020

>>> Up
* BMW Raised to Buy at Pareto Securities; PT 69 euros
* Covestro Raised to Hold at Bankhaus Metzler; PT 32 euros
* Kvaerner Raised to Buy at SEB Equities; PT 10 kroner
* NKT Raised to Buy at Goldman; PT 173 kroner
* SES GDRs Raised to Buy at Goldman; PT 9.50 euros
* Tikkurila Raised to Buy at SEB Equities; PT 16.50 euros

>>> Down
* Compass Cut to Add at AlphaValue
* Covestro Cut to Reduce at Baader Helvea; PT 34 euros
* Daimler Cut to Sell at Pareto Securities; PT 30 euros
* Dufry Cut to Sell at MainFirst; PT 16 Swiss francs
* *GALAPAGOS CUT TO HOLD VS BUY AT STIFEL, PT $193 VS $298
* GEA Group Cut to Neutral at Goldman; PT 27 euros
* JDE PEET'S Rated New Hold at HSBC; PT 38 euros
* Kindred GDRs Cut to Hold at SEB Equities; PT 64 kronor
* L'Oreal Cut to Sell at Berenberg; PT 241 euros
* Novozymes Cut to Sell at SEB Equities; PT 340 kroner
* Puma Cut to Hold at Pareto Securities; PT 69 euros
* RSA Cut to Hold at HSBC; PT 455 pence
* Software AG Cut to Equal-Weight at Barclays; PT 33.50 euros
* Spire Healthcare Cut to Equal-Weight at Morgan Stanley
* Thales Cut to Add at AlphaValue
* TeamViewer Cut to Equal-Weight at Barclays; PT 53 euros
* Vistry Group Cut to Neutral at Citi; PT 785 pence

>>> Initiation
* Autoliv Reinstated Buy at Goldman; PT $81
* Instone Real Estate Rated New Buy at MainFirst; PT 37 euros
* SOITEC Rated New Buy at SocGen; PT 135 euros

>>> Call
* Covestro 2021 Estimates Still Too Ambitious, Baader Downgrades
* 5G Momentum Remains Positive, Ericsson the Top Pick, Citi Says
* Gym Group Investors to Take Reopening News Positively, Citi Says
* Time to Take Profits on L’Oreal, Berenberg Says, Cutting to Sell
* Vistry Short-Term Upside Less Compelling, Citi Cuts to Neutral