>>> Europe : Brokers Upgrades & Downgrades - 19th of November 2020

>>> Up
* Arrow Global Raised to Hold at Peel Hunt; PT 166 pence
* EasyJet Raised to Buy at Liberum; PT 1,300 pence
* Embracer Group AB PT Raised to 250 kronor at Berenberg
* Renault Raised to Reduce at AlphaValue
* Rosenbauer Raised to Add at Baader Helvea; PT 40 euros
* Tallinna Sadam Raised to Buy at SEB Equities; PT 2 euros
* Trainline PT Raised to 527 pence at Deutsche Bank
* Tryg Raised to Buy at SEB Equities; PT 197 kroner
* Vonovia Raised to Buy at Jefferies; PT 66 euros
* Wm Morrison Supermarkets Raised to Buy at Goldman; PT 215 pence

>>> Down
* Amplifon Cut to Hold at Stifel; PT 38 euros
* FuelCell Cut to Neutral at JPMorgan
* Hannover Re Cut to Hold at SocGen; PT 155 euros
* Munich Re Cut to Hold at SocGen; PT 250 euros
* Reckitt Cut to Underperform at Jefferies; PT 5,845 pence
* Siemens Cut to Hold at SocGen; PT 115 euros
* Technogym Cut to Hold at Stifel; PT 9.30 euros
* TGS Cut to Sell at SEB Equities; PT 105 kroner

>>> Initiation
* AAK Rated New Equal-Weight at Barclays; PT 181 kronor
* Augean Rated New Buy at Panmure Gordon; PT 225 pence
* Barry Callebaut Reinstated Equal-Weight at Barclays
* Chr. Hansen Reinstated Underweight at Barclays; PT 484 kroner
* Corbion Rated New Overweight at Barclays; PT 48 euros
* Glanbia Reinstated Overweight at Barclays; PT 11 euros
* Kerry Group Reinstated Overweight at Barclays; PT 133 euros
* MorphoSys ADRs Rated New Neutral at Goldman; PT $32
* Solaria Energia Reinstated Buy at Goldman; PT 24 euros
* Tate & Lyle Reinstated Equal-Weight at Barclays; PT 700 pence

>>> Call
* Arrow Global Set for Bigger, More Profitable Future: Peel Hunt
* Dermapharm a Unique Opportunity, Growing Above Market: Jefferies
* Easyjet Addressing Challenges, Has Pent-Up Demand: Liberum
* PNC’s BBVA Deal Deserves ‘Stringent’ Review, Maxine Waters Says
* Reckitt Consensus Too High, Faces Challenges in Flu: Jefferies
* SBB Gets New Buy Rating at Citi, Valuation ‘Attractive’