>>> Europe : Brokers Upgrades & DOwngrades - 14th of February 20

>>> Up
*Kvaerner Raised to Buy at Arctic Securities, PT NOK13
*Nemetschek Raised to Buy at Berenberg, PT EU60
*RWE Raised to Overweight at Morgan Stanley

>>> Down
*Henderson Group Cut to Sector Perform at RBC, PT 225p
*Ipsen Cut to Hold at SocGen, PT EU83
*Oriola-KD Cut to Hold at Nordea Securities, PT EU4.50
*Raisio Cut to Hold at Nordea Securities, PT EU3.80
*Ratos Cut to Sell at ABG Sundal, PT SEK41

>>> PT Change


>>> Initiation
*ADO Properties Rated New Hold at Commerzbank, PT EU35
*Air Products Rated New Sell at Evercore ISI, PT $131
*Akzo Nobel Rated New Buy at Evercore ISI, PT EU75
*Arkema Rated New Buy at Evercore ISI, PT EU112
*BASF Rated New Buy at Evercore ISI, PT EU100
*Brenntag Rated New Sell at Evercore ISI, PT EU50
*Clariant Rated New Hold at Evercore ISI, PT CHF19.60
*Covestro Rated New Sell at Evercore ISI, PT EU65
*Croda Rated New Buy at Evercore ISI, PT 38p
*Deutsche Wohnen Rated New Buy at Commerzbank, PT EU35.10
*DSM Rated New Buy at Evercore ISI, PT EU70
*Givaudan Rated New Buy at Evercore ISI, PT CHF1900
*Grand City Properties Rated New Buy at Commerzbank, PT EU19.60
*Johnson Matthey Rated New Sell at Evercore ISI
*Lanxess Rated New Sell at Evercore ISI, PT EU63
*LEG Immobilien Rated New Buy at Commerzbank, PT EU85.90
*Linde Rated New Sell at Evercore ISI, PT EU147
*Norwegian Air Rated New Underweight at Barclays, PT NOK230
*Praxair Rated New Sell at Evercore ISI, PT $107
*Solvay Rated New Buy at Evercore ISI, PT EU124
*Umicore Rated New Sell at Evercore ISI, PT EU42
*Vonovia Rated New Hold at Commerzbank, PT EU32.80

>>> Call
>> Stock
**DAIMLER ADDED TO ALPHA LIST AT BANKHAUS LAMPE