>>> Europe : Brokers Upgrades & Downgrades - 14th of February 2020

>>> Up
* Aegon Raised to Buy at Citi
* ASML Raised to Hold at MainFirst; PT 290 euros
* Gem Diamonds Raised to Market Perform at BMO; PT 65 pence
* Metro AG Raised to Market Perform at Bernstein; PT 11.50 euros
* Nibe Raised to Hold at ABG; PT 172 kronor
* Sobi Raised to Buy at Handelsbanken; PT 220 kronor

>>> Down
* Faes Farma Cut to Underperform at BBVA; PT 4.50 euros
* Fielmann Cut to Sell at Berenberg; PT 57 euros
* Grieg Seafood Cut to Hold at Arctic Securities; PT 150 kroner
* L'Oreal Cut to Underweight at Barclays; PT 248 euros
* MIPS AB Cut to Hold at Handelsbanken; PT 260 kronor
* Pernod Ricard Cut to Equal-Weight at Barclays; PT 170 euros
* Q-Free Cut to Neutral at SpareBank; PT 6 kroner
* RELX Cut to Hold at Berenberg; PT 2,100 pence
* Remy Cointreau Cut to Underweight at Barclays; PT 83 euros
* Terveystalo Cut to Reduce at Inderes; PT 12.20 euros

>>> Initiation
* Deutsche Industrie REIT Rated New Buy at Berenberg; PT 23 euros
* Eurofins Scientific Rated New Sell at Deutsche Bank

>>> Call
* Airbus PT Cut at Morgan Stanley on Free Cash Flow Headwinds
* Fielmann Disruption Risks Not Reflected, Berenberg Cuts to Sell
* RELX a Good Business With Limited Upside, Berenberg Cuts to Hold
* U.S. Firms Put Shareholder Payments Top, Capex Last: UBS Survey