>>> Europe : Brokers Upgrades & Downgrades - 12th of February 2020

>>> Up
* Air Liquide PT Raised to 160 euros at Deutsche Bank
* Close Brothers Raised to Neutral at Citi
* Enagas Raised to Outperform at Mediobanca SpA; PT 26.50 euros
* Enagas Raised to Neutral at Goldman; PT 25 euros
* Finnair Raised to Accumulate at OP Corporate Bank
* Greencore Group Raised to Buy at Berenberg; PT 285 pence
* Harvia Raised to Hold at Handelsbanken; PT 11 euros
* Iberdrola Raised to Outperform at RBC; PT 11.30 euros
* Intesa Sanpaolo Raised to Add at AlphaValue
* M6 Raised to Overweight at JPMorgan; PT 20 euros
* Shell Raised to Buy at HSBC; PT 2,393.35 pence
* Shell ADRs Raised to Buy at HSBC; PT $63.20
* Smith & Nephew PT Raised to 2,325 pence at Berenberg
* Tethys Oil Raised to Buy at SpareBank; PT 83 kronor
* Valeo Raised to Equal-Weight at Morgan Stanley; PT 28 euros
* Veidekke Raised to Buy at Handelsbanken; PT 140 kroner
* Virgin Money UK Raised to Buy at Citi

>>> Down
* Ahlstrom-Munksjo Cut to Hold at SEB Equities; PT 15 euros
* Aker Solutions Cut to Hold at Arctic Securities; PT 18 kroner
* Clinigen Cut to Sell at Liberum
* Enav Cut to Neutral at Mediobanca SpA; PT 6 euros
* Isra Vision Cut to Sell at Hauck & Aufhaeuser
* Kemira Oyj Cut to Sell at Handelsbanken; PT 12 euros
* Umicore Cut to Neutral at JPMorgan; PT 42 euros
* Zardoya Cut to Add at AlphaValue

>>> Initiation
* AB Foods Rated New Outperform at Bernstein; PT 3,125 pence
* Asos Rated New Underperform at Bernstein; PT 2,750 pence
* Boohoo Rated New Market Perform at Bernstein; PT 330 pence
* H&M Rated New Underperform at Bernstein; PT 170 kronor
* Inditex Rated New Market Perform at Bernstein; PT 33.25 euros
* Next Rated New Market Perform at Bernstein; PT 7,000 pence
* Sanne Group Rated New Buy at Jefferies; PT 735 pence
* Zalando Rated New Outperform at Bernstein; PT 53.30 euros

>>> Call
* Air Liquide Gets Street-High Price Target at Deutsche Bank
* Babcock Broadly in Line But Divisions Mixed, Jefferies Says
* Kone, Schindler at Risk from Virus, Buy Luceco: Liberum
* Liberum Says This May Be a ‘Golden Age’ for U.K. Infrastructure
* Smith & Nephew Gets Street-High PT on Earnings Path: Berenberg
* Valeo Has Valuation Support, Up to Equal-Weight: Morgan Stanley
* X-Fab Silicon’s Recovery Has Begun, Outlook Strong: Berenberg