>>> Europe : Brokers Upgrades & Downgrades - 17th of June 2020

>>> Up
* Glanbia PT Raised to 12.50 euros at Morgan Stanley
* JM Raised to Hold at Handelsbanken; PT 220 kronor
* Pandora Raised to Buy at HSBC; PT 480 kroner
* Prosus Raised to Buy at HSBC; PT 93 euros
* Recordati Raised to Buy at Goldman; PT 51.80 euros
* RWE Raised to Buy at HSBC; PT 37 euros
* Titan Cement International Raised to Neutral at Exane
* UCB Raised to Reduce at AlphaValue
* WPP Raised to Buy at Goldman; PT 800 pence

>>> Down
* BNP Paribas Cut to Sell at SocGen; PT 30 euros
* Continental AG Cut to Hold at LBBW; PT 90 euros
* Demant Cut to Hold at Berenberg; PT 190 kroner
* Lindt & Spruengli Cut to Sell at MainFirst
* Pharma Mar Cut to Neutral at JB Capital Markets; PT 8.10 euros
* Neste Cut to Hold at Handelsbanken; PT 36 euros
* Software AG Cut to Add at Baader Helvea; PT 36.50 euros

>>> Initiation
* AB InBev Rated New Hold at Renaissance Capital
* Kingspan Rated New Buy at SocGen; PT 63 euros
* Rockwool Rated New Sell at SocGen; PT 1,500 kroner
* Ubisoft Rated New Buy at Stifel; PT 80 euros

>>> Call
* Demant Now Priced More Fairly After Share Rally: Berenberg
* Hugo Boss New CEO’s Distant Arrival Is Not Great for Stock: Citi
* Short Covering Can Push Up Europe, U.K. Equities, JPMorgan Says
* RWE Top Pick in Utilities on Renewables Potential: Berenberg
* Software AG Upside Now More Limited, Cut to Add: Baader Helvea