>>> Europe : Brokers Upgrades & Downgrades - 24th of February 2020 V2(+)

>>> Up
* Allianz PT Raised to 260 euros at Bankhaus Metzler
* Albioma PT Raised to 35.50 euros at Gilbert Dupont (+)
* Deutsche Boerse PT Raised to 175 euros at Jefferies (+)
* L'Oreal Target Raised to EUR245 From EUR242 by Berenberg
* Poste Italiane Raised to Neutral at BofA
* Rentokil Raised to Buy at Jefferies; PT 620 pence
* Sparebank 1 Oestlandet Raised to Hold at Norne Securities (+)
* Sunrise Communications Target Raised to CHF95 From CHF87 by Berenberg
* Swedish Match PT Raised to 675 kronor at Deutsche Bank

>>> Down
* Alstria Office Cut to Hold at M.M. Warburg; PT 20 euros (+)
* Amadeus PT Cut to 80 euros from 90 euros at Deutsche Bank
* Danske Bank Cut to Neutral at Citi; PT 119 kroner
* Handelsbanken Cut to Sell at Citi; PT 101 kronor
* Micro Focus PT Cut to 680 pence from 1,000 pence at Citi
* NMC Health PT Slashed to Street-Low of 500p at Jefferies (+)
* NRC Cut to Hold at SEB Equities; PT 33 kroner
* Randstad Cut to Hold at HSBC; PT 60.50 euros
* Sogn Sparebank Cut to Sell at Norne Securities; PT 107 kroner (+)
* TLG Immobilien Cut to Neutral at JPMorgan; PT 33 euros
* Verallia Cut to Hold at SocGen; PT 36 euros (+)

>>> Initiation
* Baloise Rated New Equal-Weight at Morgan Stanley
* Bonheur Rated New Buy at SEB Equities; PT 240 kroner
* Electrolux Resumed Equal-Weight at Morgan Stanley
* Fevertree Drinks Reinstated Buy at Liberum; PT 1,675 pence
* National Express Rated New Hold at Peel Hunt; PT 450 pence
* Sunrise Resumed Hold at Deutsche Bank; PT 85 Swiss francs
* Sunrise Reinstated Neutral at UBS; PT 84 Swiss francs
* Syncona Limited Rated New Add at Peel Hunt; PT 286 pence
* Swiss Life Rated New Underweight at Morgan Stanley

>>> Call
* AB Foods’s Primark Outlook Suggests Modest Slowdown, MS Says (+)
* Bunzl to Rebound in ‘20 as Growth Resumes, M&A Accelerates: Citi (+)
* Europe’s Airports Face 3%-4% Earnings Hit From Virus: RBC
* Baloise Preferred to Swiss Life on Earnings Quality, MS Says
* Rentokil’s Premium Valuation Should Be Maintained: Jefferies