>>> Europe : Brokers Upgrades & Downgrades - 19th of January 2021

>>> Up
* *AJ BELL RAISED TO HOLD VS SELL AT BERENBERG, PT 400P
* Banco BPM Raised to Neutral at JPMorgan; PT 1.90 euros
* CaixaBank Raised to Buy at SocGen; PT 2.75 euros
* Capital & Counties Raised to Buy at Panmure Gordon; PT 161 pence
* DEFAMA AG Raised to Buy at SRC Research; PT 23 euros
* Fiat Chrysler Raised to Buy at AlphaValue
* FinecoBank PT Raised to 15.50 euros at Berenberg
* Galapagos ADRs Raised to Overweight at Morgan Stanley; PT $129
* Gilead Raised to Overweight at Morgan Stanley; PT $83
* Hammerson Raised to Hold at Panmure Gordon; PT 23 pence
* Hays PT Raised to 160 pence from 152 pence at Morgan Stanley
* MCH Group Raised to Hold at Research Partners
* Sandvik Raised to Buy at Jefferies; PT 267 kronor
* Telia Raised to Buy at Handelsbanken; PT 41 kronor
* Tesla PT Raised to $775 from $650 at Jefferies

>>> Down
* Assura Cut to Hold at Panmure Gordon; PT 78 pence
* Covivio Cut to Underweight at Barclays; PT 64 euros
* CTS Eventim Cut to Hold at Berenberg; PT 58 euros
* EssilorLuxottica Cut to Sell at SocGen; PT 116 euros
* Evotec SE Cut to Hold at Deutsche Bank; PT 29 euros
* Genmab ADRs Cut to Equal-Weight at Morgan Stanley; PT $41
* Pandora Cut to Hold at HSBC; PT 680 kroner
* Subsea 7 Cut to Equal-Weight at Morgan Stanley; PT 95 kroner
* Wood Cut to Equal-Weight at Morgan Stanley; PT 383 pence

>>> Initiation
* BW Energy Rated New Buy at SEB Equities; PT 37 kroner
* Instone Real Estate Rated New Buy at Commerzbank; PT 26 euros

>>> Call
* Danone Management Losing Control of Investment Story: Bernstein