>>> Europe : Brokers Upgrades & Downgrades - 25th of February 2020 V2(+)

>>> Up
* Anglo American Raised to Overweight at Barclays; PT 2,800 pence
* Ascential Raised to Buy at Liberum; PT 420 pence
* CNP Assurances Raised to Buy at Oddo BHF; PT 18 euros (+)
* Delignit Raised to Hold at Commerzbank; PT 6.55 euros (+)
* EDF Raised to Buy at Goldman; PT 16.60 euros
* Grenke PT Raised to 110 euros from 95 euros at Deutsche Bank
* RBS Raised to Buy at Investec; PT 210 pence (+)
* Redrow Raised to Buy at Jefferies; PT 981 pence
* Rheinmetall Raised to Buy at MainFirst; PT 107 euros

>>> Down
* AB InBev Cut to Reduce at HSBC; PT 60 euros
* B&M European Cut to Hold at Shore Capital; PT 357 pence (+)
* Engie Cut to Hold at Deutsche Bank; PT 16.50 euros
* Finnair Cut to Reduce at Inderes; PT 5.75 euros (+)
* Fraport Cut to Reduce at Commerzbank; PT 59 euros
* Galapagos Downgraded at BofA Ahead of ‘Risky’ Data Readouts
* Gamuda Cut to Sell at Affin Hwang; PT MYR3
* HolidayCheck Cut to Hold at M.M. Warburg; PT 2.30 euros (+)
* HSS Engineers Cut to Hold at Affin Hwang; PT MYR0.78
* Nexans Cut to Neutral at Exane; PT 48 euros
* Novartis Cut to Neutral at Guggenheim
* Tesla Cut to Hold at Jefferies; PT $800
* Teva ADRs Cut to Sell at Edward Jones
* TUI Cut to Add at AlphaValue (+)

>>> Initiation
* Anglo Pacific Reinstated Outperform at RBC; PT 240 pence
* De La Rue Resumed Neutral at JPMorgan; PT 150 pence (+)
* Ricardo PT Cut to 720 pence from 900 pence at Liberum (+)
* Serge Ferrari SAS Rated New Buy at Gilbert Dupont; PT 9 euros (+)
* Softcat Rated New Buy at Peel Hunt; PT 1,407 pence

>>> Call
* B&M Downgraded at Shore on Lack of Visibility on Virus Impact (+)
* Bookmakers Good Value Even in Worst Regulatory Scenario: RBC
* Carrefour Upgraded, is Reaching Inflection Point: Morgan Stanley
* Clinigen Growth May Accelerate in 2H After Strong 1H: Peel Hunt (+)
* Croda to Slightly Underperform After 2H Earnings: Morgan Stanley (+)
* DSM’s Glycom Buy ‘Logical’, Will Support Growth: Deutsche Bank (+)
* Ericsson Webcast Shows Co. at Least on Par With Huawei: Liberum (+)
* Jefferies Positive on U.K. Homebuilders, Redrow Raised to Buy
* Leoni Provisions for Expected Losses Are Alarming, Oddo BHF Says (+)
* Prudential Shares Imply Zero Valuation For Jackson Unit, MS Says (+)