>>> Europe : Brokers Upgrades & Downgrades - 25th of June 2018

>>> Up
* Accor Upgraded to Hold at Berenberg
* BinckBank Upgraded to Hold at Kepler Cheuvreux; PT 4.60 Euros
* Rolls-Royce Upgraded to Hold at Kepler Cheuvreux; PT 9.75 Pounds

>>> Down
* Heidelberger Druck Downgraded to Reduce at AlphaValue
* Pandora PT Cut at Morgan Stanley on Profitability Outlook
* Suedzucker Downgraded to Sell at Goldman; PT 11 Euros

>>> Initiation
* Ambu Rated New Overweight at JPMorgan; PT 312 Kroner
* Dometic Rated New Buy at Berenberg
* Logitech Reinstated at Goldman With Neutral; PT 47.50 Francs
* LVMH Rated New Buy at Jefferies
* Trigano Rated New Hold at Berenberg

>>> Call
* Rexel Upgraded to Buy at HSBC; PT 17 Euros