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

>>> Up
* Barratt Raised to Outperform at Davy; PT 628 pence
* Bayer Raised to Buy at HSBC; PT 85 euros
* Centamin Raised to Outperform at RBC; PT 210 pence
* Derwent London Raised to Hold at HSBC; PT 2,800 pence
* Paragon Raised to Outperform at KBW; PT 460 pence
* Sunrise Raised to Buy at Goldman; PT 111 Swiss francs

>>> Down
* Boeing Cut to Sell at Berenberg; PT $150
* E.On Cut to Hold at Jefferies; PT 10 euros
* Gestamp Cut to Hold at Grupo Santander; PT 2.93 euros
* HeidelbergCement Cut to Hold at LBBW; PT 51 euros
* Hochschild Mining Cut to Sector Perform at RBC; PT 210 pence
* InterContinental Hotels Cut to Hold at Jefferies
* MorphoSys Cut to Sector Perform at RBC; PT 130 euros
* Pandora Cut to Sell at Handelsbanken; PT 300 kroner
* Paradox Interactive Cut to Hold at Jefferies; PT 212 kronor
* PPHE Hotel Cut to Hold at Jefferies; PT 1,150 pence
* Rightmove Cut to Sell at Berenberg; PT 385 pence
* Virgin Money UK Cut to Underperform at KBW; PT 100 pence

>>> Initiation
* Dalata Rated New Buy at Jefferies; PT 4.50 euros
* Fabasoft Rated New Buy at MainFirst; PT 34 euros
* Fraport Cut to Underweight at Barclays; PT 35 euros
* JTC PLC Rated New Buy at Berenberg; PT 595 pence
* Melia Hotels Rated New Hold at Jefferies; PT 4.50 euros
* Provident Rated New Market Perform at KBW; PT 200 pence
* Restaurant Group Reinstated Equal-Weight at Barclays (Earlier)
* Scandic Rated New Underperform at Jefferies; PT 27 kronor
* WH Smith Reinstated Overweight at Barclays (Earlier)

>>> Call
* Bayer Shares Can Now Trade on Fundamentals, Bernstein Says
* Jefferies Now Expects ‘L-Shaped’ Recovery for European Hotels
* Berenberg Likes Fund Administrators, Adds JTC to Midcap Picks
* Rexel, Legrand Could Benefit From EU Electrification Boost: Citi