>>> Europe : Brokers Upgrades & Downgrades - 22nd of July 2020 - V2(+)

>>> Up
* Adidas Raised to Buy at Bryan Garnier (+)
* Altice Europe Raised to Overweight at JPMorgan; PT 4.70 euros
* Dechra Pharma PT Raised to 3,515 pence at Jefferies
* DP Eurasia Raised to Buy at VTB Capital; PT 50 pence
* EasyJet Raised to Buy at Berenberg; PT 800 pence
* Generali Raised to Buy at Berenberg; PT 18.50 euros
* Ipsen Raised to Overweight at JPMorgan; PT 96 euros
* Kaufman & Broad Raised to Buy at Oddo BHF (+)
* Polar Capital Raised to Buy at Investec; PT 620 pence (+)
* Proximus Raised to Buy at HSBC; PT 23 euros
* Reckitt Raised to Buy at Bryan Garnier; PT 9,000 pence (+)
* Resurs Holding Raised to Buy at Pareto Securities; PT 50 kronor (+)
* Sartorius PT Raised to 385 euros at Bankhaus Metzler
* Sobi Raised to Overweight at Barclays; PT 230 kronor
* Somfy Raised to Buy at SocGen; PT 124 euros
* Sunrise Raised to Overweight at Morgan Stanley
* UBS Raised to Buy at DZ Bank; PT 15 Swiss francs (+)

>>> Down
* Alrosa Cut to Neutral at Citi
* Axa Cut to Hold at Berenberg; PT 21.80 euros
* Koenig & Bauer Cut to Hold at LBBW; PT 21 euros
* Lindt & Spruengli Cut to Underweight at Barclays
* Sartorius Cut to Hold at M.M. Warburg; PT 330 euros (+)
* Uniper Cut to Hold at Bankhaus Metzler; PT 29.80 euros

>>> Initiation
* Hiag Immobilien Rated New Add at Baader Helvea

>>> Call
* ABB’s 2Q Beat ‘Impressive,’ With Motion Resilient: Jefferies (+)
* Akzo Nobel 2Q Shows ‘Excellent Job’ in Tough Times, Redburn Says (+)
* Britvic’s Stability ‘Impressive’ With In-Line 3Q Sales, RBC Says (+)
* Close Brothers Faces ‘Serious Headwinds,’ Jefferies Says (+)
* Investors Should Now Buy Generali and Hold Axa, Berenberg Says (+)
* Dechra Pharma Gets Street-High PT on Clearer Outlook: Jefferies
* EasyJet Upgraded at Berenberg on Restraint in Adding Capacity (+)
* Evolution Gaming Estimates Raised on Strong 2Q: Morgan Stanley
* Post-Virus Green Push Isn’t End of Big Oil, Citi’s Morse Says
* Software AG Results Show ‘Solid’ Bookings Trend, Baader Says (+)
* Sunrise Upgraded on Growth, Superior Visibility: Morgan Stanley