>>> Europe : Brokers Upgrades & Downgrades - 18th of February 2021 V2(+)

>>> Up
* Aviva Raised on Buyback Potential, Risks Skewed to Upside: Citi
* Beiersdorf Raised to Buy at LBBW; PT 98 euros
* Credit Agricole Raised to Add at AlphaValue
* Dermapharm PT Raised to 72 euros from 53 euros at Berenberg
* Derwent London Raised to Buy at Liberum
* Infineon PT Raised to 45 euros from 17 euros at Berenberg
* Klovern Raised to Buy at SEB Equities; PT 15 kronor
* NRC Raised to Hold at DNB Markets; PT 16 kroner
* Sage PT Raised to 830 pence from 780 pence at Jefferies
* SSP Raised to Overweight at Morgan Stanley; PT 350 pence
* STMicroelectronics Raised to Hold at Berenberg; PT 39 euros

>>> Down
* Daetwyler Cut to Add at Baader Helvea; PT 319 Swiss francs (+)
* FLEX LNG Cut to Hold at Danske Bank Markets; PT 80 kroner (+)
* K+S Cut to Hold at Commerzbank; PT 10 euros
* Lancashire Cut to Add at Numis
* NN Cut to Accumulate at KBC Securities (+)
* Stora Enso Cut to Neutral at Citi; PT 17.10 euros
* Subsea 7 Cut to Hold at Jefferies; PT 90 kroner
* Telia Cut to Underweight at JPMorgan; PT 33 kronor

>>> Initiation
* Genel Rated New Hold at Renaissance Capital; PT 170 pence
* Gulf Keystone Petroleum Reinstated Buy at Renaissance Capital
* DNO Rated New Hold at Renaissance Capital; PT 8 kroner

>>> Call
* Airbus 4Q Beat Across the Board, Guidance Looks Light: Bernstein
* Auto Chip Shortage Positive for Infineon, STMicro: Berenberg
* Atos Results ‘Decent,’ Though Guidance Upside Limited, Oddo Says (+)
* Barclays 4Q a Beat, But Outlook Lacking in Detail, Citi Says (+)
* Carrefour’s FY Results a Step in the Right Direction, Says Citi (+)
* Credit Suisse 4Q Results a ‘Messy Non-Event,’ Citi Says (+)
* K+S Cut to Hold By Commerzbank as BaFin Orders Accounting Probe (+)
* Liberum Sees 2021 Gains in U.K. Property Stocks; Derwent Raised
* Orange Results, Outlook in Line With Expectations, Goldman Says (+)
* Premier Foods’ Note Repayment Improves Balance Sheet: Peel Hunt (+)
* ‘Attractive’ SSP Group Upgraded to Overweight at Morgan Stanley (+)
* Subsea 7, Saipem 4Q’s to Disappoint on Limited Awards: Jefferies
* Telia Targets Ambitious, Execution Uncertain, JPMorgan Says (+)
* Temenos 2021 Guidance ‘Reassuring,’ Focus Now on Mid Term: Citi
* Varta Guidance Weak, Topline Beat Low Quality: Commerzbank (+)