>>> Europe : Brokers Upgrades & Downgrades - 13th of May 2019

>>> Up
* Getinge Upgraded to Reduce at AlphaValue
* Hochtief Upgraded to Outperform at Macquarie
* Marks & Spencer Upgraded to Buy at Citi
* Shell Upgraded to Buy at HSBC; PT 27.40 Pounds

>>> Down
* Air France-KLM Cut to Underperform at Bernstein; PT 7 Euros
* Ambu Downgraded to Hold at ABG; PT 155 Kroner
* Bechtle Downgraded to Hold at Bankhaus Metzler; PT 95 Euros
* Casino Downgraded to Reduce at Kepler Cheuvreux; PT 30.70 Euros
* Evraz Downgraded to Underweight at Morgan Stanley; PT 5 Pounds
* Intu Downgraded to Underweight at JPMorgan; PT 94 Pence
* Man Group Downgraded to Neutral at Goldman; PT 1.50 Pounds
* MTU Aero Downgraded to Sell at Citi
* Tyman Downgraded to Add at Peel Hunt
* Verkkokauppa.com Cut to Accumulate at Inderes; PT 4.40 Euros

>>> Initiation
* Medica Rated New Reduce at Peel Hunt; PT 1.43 Pounds
* Zegona Comms Rated New Overweight at Barclays; PT 1.30 Pounds

>>> Call
* Air France Downgraded at Bernstein Amid Rising Fuel, Staff Costs
* M&S Changes Make It More ‘Relevant,’ Upgrade to Buy: Citi
* MTU Cut to Sell as Citi Sees Better Option in Rolls-Royce