>>> Europe : Brokers Upgrades & Downgrades - 14th of December 2018

>>> Up
* Lundbeck Upgraded to Overweight at Barclays; PT 335 Kroner
* Meggitt Upgraded to Buy at Citi

>>> Down
* Cellnex Downgraded to Equal-weight at Barclays; PT 26 Euros
* Equinor Downgraded to Sell at Goldman; PT 230 Kroner
* GAM Holding Cut to Underperform at MainFirst; PT 2.50 Francs

>>> Initiation
* Applus Rated New Outperform at BBVA; PT 14 Euros
* AstraZeneca ADRs Rated New Buy at SunTrust; PT $48
* Bayer Reinstated at Morgan Stanley With Overweight; PT 82 Euros
* Glaxo Rated New Hold at SunTrust; PT 38 Pence
* Leoni Reinstated at MainFirst With Neutral; PT 34 Euros
* Roche Reinstated Overweight at Morgan Stanley; PT 307 Francs

>>> Call