>>> Europe : Brokers Upgrades & DOwngrades - 23rd of July 2018

>>> Up
* DNA Upgraded to Overweight at JPMorgan; Price Target 20 Euros
* Huhtamaki Upgraded to Hold at Danske Bank Markets; PT 30 Euros
* M6 Upgraded to Neutral at JPMorgan; PT 20 Euros
* Mediaset Espana Raised to Overweight at JPMorgan; PT 9.20 Euros
* Mediaset Upgraded to Neutral at JPMorgan; PT 3.30 Euros
* OMV Upgraded to Buy at Goldman; Price Target 62 Euros
* SES GDRs Upgraded to Overweight at Morgan Stanley; PT 19 Euros
* Weborama Upgraded to Buy at Euroland Corporate; PT 13 Euros

>>> Down
* Arise Downgraded to Hold at Kepler Cheuvreux; PT 17 Kronor
* Boliden Downgraded to Hold at Danske Bank Markets; PT 275 Kronor
* Covestro Cut to Hold at Baader-Helvea; Price Target 84 Euros
* dormakaba Downgraded to Hold at Berenberg
* ING Downgraded to Sector Perform at RBC; PT 14 Euros
* Julius Baer Downgraded to Market Perform at ZKB
* Rieter Downgraded to Market Perform at ZKB
* VolkerWessels Cut as Risk Control Disappointing: Morgan Stanley

>>> Initiation
* Glanbia Rated New Neutral at Citi
* Home24 Rated New Buy at Berenberg; PT 35 Euros
* Inficon Rated New Buy at Berenberg; PT 647 Francs
* Kerry Group Rated New Buy at Citi
* Pfeiffer Vacuum Rated New Hold at Berenberg; PT 150 Euros

>>> Call
* *PHILIPS ADDED TO DEUTSCHE BANK SHORT-TERM CATALYST BUY LIST