>>> Europe : Brokers Upgrades & Downgrades - 11th of February 2021 V2(+)

>>> Up
* Adidas Raised to Buy at UBS; PT 338 euros (+)
* Adyen PT Raised to 2,507 euros from 1,777 euros at Jefferies
* Banca Generali Raised to Accumulate at Banca Akros (ESN) (+)
* BMW Raised to Reduce at AlphaValue
* DNB Raised to Hold at Handelsbanken; PT 170 kroner
* Eurofins Scientific Raised to Equal-Weight at Morgan Stanley
* Heineken PT Raised to 110 euros from 105 euros at Jefferies
* Iberdrola Raised to Buy at JB Capital Markets; PT 13 euros
* Intertek Raised to Overweight at Morgan Stanley; PT 6,600 pence
* Inwido Raised to Buy at Handelsbanken; PT 140 kronor
* Polymetal PT Raised to 715 pence from 667 pence at Jefferies
* SES GDRs Raised to Hold at Berenberg; PT 6.80 euros
* Solaria Energia Raised to Hold at SocGen; PT 24.50 euros
* Solarpack Corp. Tecnologica Raised to Buy at JB Capital Markets
* Vestas Raised to Hold at Jyske Bank; PT 1,250 kroner
* VW Raised to Add at AlphaValue

>>> Down
* CIE Automotive Cut to Neutral at JB Capital Markets
* Deutsche Beteiligungs AG Cut to Accumulate at SRC Research
* Dialog Semi Cut to Equal-Weight at Barclays; PT 67.50 euros
* Dialog Semi Cut to Market Perform at BMO; PT 67.50 euros
* Duerr Cut to Hold at Berenberg; PT 39 euros
* Enagas Cut to Underweight at JB Capital Markets; PT 17.50 euros
* Ferrari Cut to Hold at HSBC; PT $218.34
* Galapagos ADRs Cut to Hold at Maxim
* Galapagos Cut to Neutral at Citi; PT 79.10 euros
* Hella Cut to Neutral at JPMorgan; PT 54 euros
* NatWest Cut to Sell at Investec; PT 155 pence (+)
* Red Electrica Cut to Underweight at JB Capital Markets
* RWE Cut to Hold at HSBC; PT 37 euros
* Sartorius Stedim Biotech Cut to Hold at SocGen; PT 400 euros
* Senior Cut to Reduce at Peel Hunt; PT 92 pence
* SGS Cut to Equal-Weight at Morgan Stanley; PT 2,900 Swiss francs
* Stock Spirits Cut to Hold at Wood & Company; PT 317 pence
* Talgo Cut to Underweight at JB Capital Markets; PT 3.40 euros

>>> Initiation
* Aena Rated New Underweight at JB Capital Markets; PT 113 euros
* Aker Carbon Capture Rated New Buy at Clarksons Platou
* Aker Offshore Wind Rated New Buy at Clarksons Platou
* Dassault Aviation Rated New Buy at Deutsche Bank; PT 1,240 euros~
* Deutsche Industrie REIT Rated New Buy at M.M. Warburg (+)
* Leonardo Reinstated Hold at Deutsche Bank; PT 6.50 euros
* Orpea SA Reinstated Hold at Portzamparc; PT 110 euros
* Rolls-Royce Reinstated Hold at Deutsche Bank; PT 97 pence
* Thales Rated New Buy at Deutsche Bank; PT 93 euros
* Vow ASA Rated New Buy at Clarksons Platou; PT 80 kroner

>>> Call
* Adevinta Results ‘Encouraging,’ Profitability ‘Strong:’ JPMorgan (+)
* ArcelorMittal’s Earnings a Strong Beat; Citi Sees Re-Rating (+)
* Credit Agricole’s Results Are ‘Good Quality Beat’: Jefferies (+)
* Danone Entering ‘Unforgiving’ Sequence, FY Will Be ‘Tough:’ Citi (+)
* Equinor’s 1-Cent Dividend Increase Sends Cautious Message: RBC
* Galapagos Trial Halt Removes 2021 Buy Thesis, Citi Says
* Pernod 1H Results a Strong Beat, and ‘Much to Like:’ Jefferies (+)
* Saab 4Q Results Satisfactory, Guidance Comforting: Jefferies (+)
* Schneider Electric 4Q Solid, Consensus Won’t Move Much: RBC (+)
* Senior Plc’s Valuation Running Ahead of Recovery, Peel Hunt Says
* SES Raised on Underperformance, Estimates Still High: Berenberg
* Telenet 4Q Results ‘Strong,’ KPIs Solid, Goldman Sachs Says (+)
* Unibail’s FY20 Results Contain No Positives: Morgan Stanley
* UniCredit Earnings Solid, Still Questions on Outlook: Jefferies (+)
* Zurich Insurance’s Strong Business Mix Encouraging: Bergos (+)