>>> Europe : Brokers Upgrades & Downgrades - 12th of February 20

>>> Up
* Diploma Raised to Buy at HSBC; PT 2,705 pence
* Helical Raised to Buy at Peel Hunt; PT 425 pence
* Kongsberg Raised to Buy at Arctic Securities; PT 214 kroner
* Lok'nStore Group Cut to Add at Peel Hunt; PT 660 pence
* Neste Raised to Overweight at Barclays; PT 75 euros
* Pandox PT Raised, EPS Estimate Lowered at Morgan Stanley Post 4Q
* Royal Mail PT Raised to 680 pence at Deutsche Bank
* Scout24 Raised to Buy at Goldman; PT 77.40 euros
* Sweco Raised to Buy at SEB Equities; PT 148 kronor
* Total SE Raised to Buy at LBBW; PT 39 euros

>>> Down
* Aroundtown Cut to Hold at Jefferies; PT 6.30 euros
* Carnival Plc Cut to Sell at Berenberg; PT 1,000 pence
* Hensoldt Cut to Neutral at Citi; PT 15.90 euros
* Hyatt Cut to Sell at Berenberg; PT $55
* Royal Caribbean Cut to Sell at Berenberg; PT $55
* Norwegian Cruise Cut to Hold at Berenberg; PT $22
* Sbanken Cut to Hold at Pareto Securities; PT 85 kroner
* StrongPoint Cut to Hold at Norne Securities; PT 35 kroner
* Watches of Switzerland Cut to Neutral at Goldman; PT 690 pence

>>> Initiation
* Breedon Rated New Overweight at Morgan Stanley; PT 114 pence
* Ferguson Rated New Equal-Weight at Morgan Stanley
* FRP Advisory Group Reinstated Buy at Panmure Gordon
* Millicom Rated New Buy at SEB Equities; PT $405

>>> Call
* Hydrogen Stocks Offer Buying Opportunity After Pullback: Citi
* L’Oreal Results Strong on Sales, Margin, Stock May Rise: Goldman
* More Pain for U.K. Retail Property, Logistics Strong: Peel Hunt