>>> Europe : Brokers Upgrades & Downgrades - 22nd of April 2021 V2(+)

>>> Up
* Alstom Raised to Buy at Deutsche Bank; PT 52 euros
* Deutsche Telekom PT Raised to 25 euros at Deutsche Bank
* Entain PLC PT Raised to 2,090 pence at Deutsche Bank
* Equinor Raised to Buy at Nordea; PT 200 kroner (+)
* Faurecia SE Raised to Buy at HSBC; PT 57 euros
* Hicl Infrastructure Raised to Outperform at RBC; PT 185 pence (+)
* Kering PT Raised to 761 euros from 635 euros at Citi
* Melrose Industries PT Raised to 300 pence at Peel Hunt
* Renalytix AI Raised to Buy at Investec; PT 1,163 pence (+)
* SAP ADRs Raised to Outperform at Exane; PT $160
* Workday Raised to Neutral at Exane; PT $250

>>> Down
* ABB Cut to Hold at Kepler Cheuvreux; PT 32 Swiss francs (+)
* Arjo Cut to Hold at SEB Equities; PT 72 kronor
* Investor AB Cut to Hold at Pareto Securities; PT 765 kronor (+)
* Mercialys Cut to Neutral at Goldman; PT 10.90 euros
* Nordex Cut to Hold at SocGen; PT 27 euros
* Nyfosa Cut to Sell at SEB Equities; PT 90 kronor
* Platzer Cut to Hold at Pareto Securities; PT 114 kronor
* Sartorius Stedim Biotech Cut to Hold at SocGen; PT 429 euros
* Synthomer Cut to Neutral at JPMorgan; PT 540 pence
* VW Cut to Hold at HSBC; PT 285 euros

>>> Initiation
* Addiko Rated New Buy at Wood & Company; PT 18.10 euros (+)
* Aroundtown Rated New Hold at SocGen; PT 6.60 euros
* Atoss Software Rated New Hold at Hauck & Aufhaeuser (+)
* Vantage Towers Rated New Neutral at JPMorgan; PT 29 euros

>>> Call
* Accor 1Q Revenues Weak, But Management Upbeat on Recovery: Citi
* Barry Callebaut CEO’s Early Departure Is a ‘Regret:’ Vontobel (+)
* Basic-Fit 1Q Revenue Drop in Line With Gym Closures: MS (+)
* Brunello Cucinelli 1Q ‘Solid,’ Guidance Reiterated: Jefferies
* Credit Suisse Capital Increase to Cause 7% EPS Dilution: JPM (+)
* Domino’s Pizza Group 1Q Update Is Broadly in Line: Goodbody (+)
* Electrolux May See Whirlpool Readacross on Price Hike, Citi Says
* EQT’s Trading Update Is Good ‘Overall,’ Citi Says (+)
* Handelsbanken Terminates Research Coverage on Norwegian Insurers
* Hermes ‘Smashes’ 1Q Goals in Similar Fashion to LVMH: Bernstein (+)
* Ibstock’s Valuation Impresses After Upbeat Update: Peel Hunt (+)
* Jefferies Hikes Oil Explorer PTs, Prefers Lundin and Harbour
* Lenzing Estimates May Rise on 1Q Beat, Guidance Raise: Baader (+)
* Melrose is a ‘Must-Own’ Stock, Peel Hunt Sets Street-High PT
* Nestle Shares to React Positively to ‘Massive’ Beat, Citi Says (+)
* Orange Results, Guidance Confirmation ‘Should Reassure:’ Goldman (+)
* Pernod Gives ‘Blowout’ Ebit Guidance, Shares to Re-rate: Citi (+)
* Renault Update Broadly In Line, Lack of Outlook a Negative: Oddo (+)
* SAP Results Show ‘Strong’ Margin Expansion, Oddo Says (+)
* Segro Update Strong, Should Support FY21 Expectations: Goodbody (+)
* Spectris ‘Positive And Confident’ Update: Jefferies
* Taylor Wimpey Trading Reassuring, On Track for 2021: Citi (+)
* Temenos PT Raised at Deutsche Bank; 1Q Performance Was ‘Good’ (+)