>>> Europe : Brokers Upgrades & Downgrades - 25th of August 2020

>>> Up
* Aperam Raised to Overweight at Morgan Stanley; PT 30 euros
* Barco PT Raised to 27.40 euros from 25.71 euros at Berenberg
* Deutsche Post PT Raised to 45 euros at Deutsche Bank
* DSV Panalpina PT Raised to 1,070 kroner at Deutsche Bank
* Generali Raised to Buy at BofA; PT 15.80 euros
* Stratec Raised to Hold at LBBW; PT 128 euros
* Telia Raised to Neutral at JPMorgan; PT 35 kronor
* Trigano PT Raised to 134 euros from 107 euros at Berenberg
* Wallenstam Raised to Hold at Handelsbanken; PT 124 kronor
* Zehnder Raised to Buy at MainFirst; PT 52 Swiss francs

>>> Down
* Aker Solutions Cut to Sell at DNB Markets; PT 8.60 kroner
* Galapagos ADRs Cut to Hold at Jefferies; PT $157
* Kvaerner Cut to Hold at DNB Markets; PT 9.10 kroner

>>> Initiation
* Aperam Raised, Play Defense in Stainless Steel Short Term: MS
* Argenx ADRs Rated New Outperform at Raymond James; PT $275
* BB Biotech Rated New Hold at Intesa Sanpaolo
* Traumhaus Rated New Buy at Bankhaus Metzler; PT 17.50 euros

>>> Call
* AA Plc Stock Unappealing Even Amid Potential Bid, Jefferies Says
* Deutsche Post, Rivals’ PTs Raised on Strong 2Q: Deutsche Bank
* Galapagos Downgraded at Jefferies on Filgotinib Uncertainties
* Generali Has Limited Covid-19 Impact, Upgrade to Buy: BofA
* RWE PT Raised With Renewables Still Undervalued, Berenberg Says