>>> Europe : Brokers Upgrades & Downgrades - 20th of February 2020 V2(+)

>>> Up
* Entra Raised to Overweight at Barclays; PT 175 kroner
* Euronext PT Raised to 88 euros from 78 euros at Deutsche Bank
* Inditex PT Raised to 36 euros from 31 euros at Citi
* Morgan Sindall PT Raised to 2,000 pence at Peel Hunt (+)
* Puma Raised to Outperform at RBC; PT 90 euros
* Puma Raised to Hold at MainFirst; PT 75 euros
* Suez Raised to Buy at HSBC; PT 19 euros
* Travis Perkins Raised to Buy at Citi; PT 1,900 pence
* United Utilities Raised to Hold at HSBC; PT 1,000 pence

>>> Down
* AB InBev Cut to Underweight at JPMorgan; PT 60 euros
* AB InBev ADRs Cut to Underweight at JPMorgan; PT $65
* DWS Cut to Hold at Pareto Securities; PT 39 euros (+)
* Epiroc Cut to Sell at Pareto Securities; PT 105 kronor
* Glencore Cut to Hold at Renaissance Capital
* K+S Cut to Underperform at Credit Suisse; PT 7 euros
* National Grid Cut to Hold at HSBC; PT 1,075 pence
* Norma Cut to Hold at Pareto Securities; PT 37 euros
* Renault PT Cut to 20 euros from 30 euros at Citi
* Sixt Leasing Cut to Hold at M.M. Warburg; PT 18 euros (+)

>>> Initiation
* 3U Holding Rated New Buy at Hauck & Aufhaeuser; PT 2.40 euros
* Akasol Rated New Buy at Bankhaus Metzler; PT 60 euros
* Centamin Reinstated Outperform at BMO; PT 175 pence
* Global Fashion Group Rated New Buy at MainFirst; PT 2.50 euros
* Nexi Rated New Buy at Deutsche Bank; PT 21 euros
* Swedish Match Rated New Overweight at JPMorgan; PT 700 kronor

>>> Call
* EDP Renovaveis Earnings a Beat, Prospects Look Strong, RBC Says (+)
* Gecina FY Income Beats, Guidance Slightly Lower, Analysts Say
* Hays Estimates Cut After Results on China Headwinds: Jefferies (+)
* Lloyds Results Mixed, Consensus May Come Down: Morgan Stanley (+)
* Moneysupermarket Results to Provide Some Reassurance, RBC Says (+)
* Telefonica Results ‘Mixed,’ Spain ARPU Slows: Morgan Stanley (+)
* Tenaris 4Q Misses, May Prompt Shares to Drop: Morgan Stanley
* Travis Perkins Positioned to Outperform on Market Recovery: Citi
* Renault Gets Street-Low Price Target at Citi on Cash Concerns