>>> Europe : Brokers Upgrades & Downgrades - 24th of May 2019

>>> Up
* AIB Group Upgraded to Buy at Citi
* Amigo Upgraded to Hold at Goodbody; PT 2.12 Pounds
* Hugo Boss Raised to Buy at Baader Helvea; Price Target 67 Euros
* Mitchells & Butlers Upgraded to Buy at Citi
* Royal Mail Upgraded to Buy at Goldman; PT 3.20 Pounds
* Serco Upgraded to Buy at Liberum
* Valora Upgraded to Hold at Baader Helvea; PT 266 Francs
* Vodafone Upgraded to Buy at HSBC; Price Target 1.60 Pounds

>>> Down
* Danske Bank Downgraded to Neutral at Goldman; PT 155 Kroner
* Sanne Group Downgraded to Hold at Liberum
* Sectra Downgraded to Sell at Pareto Securities; PT 249 Kronor

>>> Initiation
* Brooks Macdonald Rated New Sector Perform at RBC
* JULIUS BAER DRAWS UP SHORTLIST TO PICK NEW CEO WITHIN MONTHS
* Norcros Rated New Buy at Peel Hunt; PT 2.60 Pounds
* Quilter Rated New Outperform at RBC; PT 1.75 Pounds

>>> Call
* AIB Raised as Citi Sees Return to Gross Loan Growth This Year
* Inditex Strategy to Remain Unchanged With New CEO: Citi