>>> Europe : Brokers Upgrades & Downgrades -13th of November 2020

>>> Up
* Airbus Raised to Neutral at JPMorgan; PT 75 euros
* DIC Asset Raised to Buy at Berenberg; PT 15 euros
* Fraport Raised to Neutral at JPMorgan; PT 49 euros
* Glaxo Raised to Equal-Weight at Morgan Stanley; PT 1,665 pence
* Hera Raised to Buy at Stifel; PT 3.60 euros
* Home Capital Group Raised to Outperform at National Bank
* HSS Hire Raised to Hold at Liberum; PT 20 pence
* JCDecaux Raised to Equal-Weight at Barclays; PT 20 euros
* Jost Werke Raised to Hold at Quirin Privatbank AG; PT 39 euros
* KPN Raised to Hold at Jefferies; PT 2.66 euros
* M6 Raised to Overweight at Barclays; PT 13.50 euros
* Royal Mail Raised to Neutral at Credit Suisse; PT 261 pence
* Stroeer Raised to Equal-Weight at Barclays; PT 75 euros
* Subsea 7 Raised to Buy at Arctic Securities; PT 84 kroner
* Technogym Raised to Neutral at Exane; PT 8.60 euros
* Ubisoft PT Raised to 100 euros from 90 euros at Morgan Stanley
* Whitbread Raised to Overweight at Barclays; PT 3,350 pence

>>> Down
* Adidas Cut to Sector Perform at RBC; PT 290 euros
* B&M European Cut to Neutral at Goldman; PT 570 pence
* DFDS Cut to Hold at SEB Equities; PT 285 kroner
* EFG International Cut to Hold at Research Partners
* Elementis Cut to Hold at HSBC; PT 92 pence
* Finnair Cut to Sell at Inderes; PT 48 euro cents
* Fuller Smith & Turner Cut to Add at Peel Hunt; PT 775 pence
* Repsol Cut to Underperform at Credit Suisse; PT 8.80 euros
* Salmar Cut to Hold at DNB Markets; PT 550 kroner
* Ultra Electronics Cut to Neutral at JPMorgan; PT 2,300 pence
* Wallenius Wilhelmsen Cut to Hold at ABG; PT 20 kroner
* William Hill Cut to Hold at HSBC; PT 272 pence

>>> Initiation
* Arkema Rated New Underperform at On Field; PT 96 euros
* Akzo Nobel Rated New Neutral at On Field; PT 92 euros
* AstraZeneca Reinstated Outperform at Exane; PT 9,800 pence
* BASF Rated New Underperform at On Field; PT 47 euros
* Clariant Rated New Underperform at On Field; PT 14 Swiss francs
* Covestro Rated New Outperform at On Field; PT 50 euros
* Evonik Rated New Outperform at On Field; PT 28 euros
* Fevertree Drinks Rated New Sell at SocGen; PT 1,850 pence
* Roche Reinstated Outperform at Exane; PT 365 Swiss francs
* Sanofi Reinstated Outperform at Exane; PT 100 euros
* Solutions 30 Rated New Buy at SocGen; PT 20 euros
* Solvay Rated New Outperform at On Field; PT 107 euros
* Victrex Rated New Underperform at On Field; PT 1,600 pence

>>> Call
* Adidas Valuation Less Compelling, RBC Says, Downgrading Stock
* DIC Asset Now Has Clean Sweep of Buys as Berenberg Upgrades
* Glaxo’s Innovation Risks Better Appreciated: Morgan Stanley
* Hamburger Hafen Consensus to Rise on Intermodal Beat: Jefferies