>>> Europe : Brokers Upgrades & Downgrades - 17th of January 201

>>> Up
* Axa Upgraded to Buy at Citi
* HolidayCheck Upgraded to Buy at Bankhaus Lampe
* Just Eat Upgraded to Overweight at Morgan Stanley
* Stora Enso Downgraded to Hold at Jefferies
* Takeaway Upgraded to Outperform at RBC; PT 70 Euros

>>> Down
* Aegon Downgraded to Sell at Citi
* Bulten Downgraded to Hold at Kepler Cheuvreux; PT 98 Kronor
* DBV Tech Downgraded to Neutral at Oddo BHF; PT Set to 15 Euros
* Generali Downgraded to Sell at Citi
* Genkyotex Downgraded to Reduce at Oddo BHF; PT 1 Euro
* Munich Re Downgraded to Sell at Citi
* Prosegur Cash Downgraded to Hold at Santander; PT 2.18 Euros
* RWE Downgraded to Equal-weight at Morgan Stanley
* SIF Downgraded to Hold at ING; PT 10.50 Euros
* Stora Enso Cut, Jefferies Lowers 2019 Pulp Price Estimates

>>> Initiation
* Aperam Resumed at Morgan Stanley With Equal-weight; PT 30 Euros
* Cellectis Rated New Buy at Oddo BHF; PT 26 Euros
* Celyad Rated New Buy at Oddo BHF; PT 28 Euros
* Deutsche Telekom Rated New Outperform at MainFirst; PT 17 Euros
* KPN Rated New Underperform at MainFirst; PT 2.35 Euros
* Natixis Rated New Overweight at Barclays; PT 5.90 Euros
* Telefonica Deutschland Rated New Neutral at MainFirst
* Uniper Resumed Underweight at Morgan Stanley; PT 21.50 Euros
* Valneva Rated New Neutral at Oddo BHF; PT 4.20 Euros

>>> Call