>>> Europe : Brokers Upgrades & Downgrades - 16th of March 2021

>>> Up
* Alfa Laval Raised to Buy at DNB Markets; PT 335 kronor
* AstraZeneca Raised to Buy at Jefferies; PT 8,850 pence
* AstraZeneca ADRs Raised to Buy at Jefferies; PT $61.50
* Danieli Raised to Add at AlphaValue
* Kone Raised to Buy at Berenberg; PT 75 euros
* Mensch und Maschine Raised to Buy at LBBW; PT 61.75 euros
* Norsk Hydro PT Raised, Morgan Stanley Confident in Self-Help
* Siemens Healthineers Raised to Buy at HSBC; PT 53 euros
* Tryg Raised to Buy at Citi; PT 167.60 kroner

>>> Down
* Adecco Cut to Hold at HSBC; PT 69 Swiss francs
* Ageas Cut to Hold at HSBC; PT 51 euros
* Danone PT Raised at Jefferies on Turnaround Hopes, Low Valuation
* Network International Cut to Equal-Weight at Barclays
* Rana Gruber Rated New Buy at SpareBank; PT 80 kroner
* Roche Cut to Hold at Jefferies; PT 330 Swiss francs
* Schindler Cut to Hold at Berenberg
* Zurich Airport Cut to Hold at HSBC; PT 170 Swiss francs


>>> Initiation
* 888 Rated New Buy at Berenberg; PT 405 pence
* B&M European Rated New Buy at Berenberg; PT 600 pence
* Enel Cut to Equal-Weight at Morgan Stanley; PT 9 euros
* Italgas Rated New Equal-Weight at Morgan Stanley
* Otis Worldwide Rated New Buy at Berenberg; PT $85
* Terna Rated New Underweight at Morgan Stanley

>>> Call
* 888 Growth Outlook Underappreciated, Initiate Buy: Berenberg
* AstraZeneca Up to Buy on ‘Compelling’ Growth Outlook: Jefferies
* B&M Started at Buy as Lockdown and Post-Covid Winner: Berenberg
* JP Morgan Asset Sees Stock Gains on Recovery Even as Yields Rise
* Roche Cut to Hold on Risks to Key Growth Drivers: Jefferies
* Snam, Terna Underweight at Morgan Stanley on Regulatory Risk
* Tryg Raised at Citi; Sees RSA Scandinavia Purchase Standing Out