>>> Europe : Brokers Upgrades & Downgrades - 15th of May 2019

>>> Up


>>> Down
* Aeroports de Paris Cut to Neutral at MainFirst; PT 155 Euros
* ArcelorMittal Downgraded to Sell at Nord/LB; PT 12 Euros
* Lekoil Downgraded to Market Perform at BMO
* ThyssenKrupp Downgraded to Sell at AlphaValue

>>> Initiation
* Allianz Rated New Underperform at RBC; PT 200 Euros
* AMG Rated New Buy at Berenberg; PT 35 Euros
* Axa Rated New Outperform at RBC; PT 29.50 Euros
* CPH Chemie & Papier Rated New Buy at Baader Helvea
* Medacta Rated New Overweight at Morgan Stanley; PT 111 Francs
* Zurich Ins. Rated New Outperform at RBC; PT 370 Francs

>>> Call
* AMG’s Entrepreneurial Approach a Major Advantage, Berenberg Says
* Ferragamo 1Q Encouraging, With Positive China Signals: Analysts
* Pirelli Likely to See Mild Consensus Downgrades, Jefferies Says