>>> Europe : Brokers Upgrades & Downgrades - 25th of March 2021

>>> Up
* AT&S Raised to Buy at Commerzbank; PT 37 euros
* AUTO1 PT Raised to 70 euros from 65 euros at RBC
* Aviva Raised to Buy at Berenberg; PT 478 pence
* BASF Raised to Add at AlphaValue
* Bechtle Raised to Buy at LBBW; PT 185.75 euros
* Bureau Veritas Raised to Overweight at JPMorgan; PT 26 euros
* EQT Raised to Buy at SEB Equities; PT 300 kronor
* Keywords Studios Raised to Buy at Berenberg; PT 3,110 pence
* Kojamo Raised to Buy at DNB Markets; PT 18.40 euros
* Nordex Raised to Reduce at AlphaValue
* Segro Raised to Sector Perform at RBC; PT 900 pence
* Unite Group Raised to Add at Peel Hunt

>>> Down
* Danone Cut to Add at AlphaValue
* Handelsbanken Cut to Hold at DNB Markets; PT 103 kronor
* Hapag-Lloyd Cut to Underperform at Jefferies; PT 100 euros
* Kuehne + Nagel Cut to Market Perform at Bernstein
* Swedbank Cut to Hold at DNB Markets; PT 170 kronor

>>> Initiation
* Aker Carbon Capture Rated New Buy at HSBC; PT 20 kroner
* Aker Carbon Capture Rated New Outperform at RBC; PT 17 kroner
* Aker Solutions Reinstated Outperform at RBC; PT 20 kroner
* CBo Territoria Reinstated Strong Buy at Portzamparc
* Porsche SE Rated New Buy at Commerzbank; PT 104 euros
* Schindler Rated New Neutral at JPMorgan; PT 270 Swiss francs
* Siemens Gamesa Rated New Outperform at Bernstein; PT 38 euros
* SSAB Reinstated Buy at Goldman; PT 48 kronor
* Technip Energies Rated New Sector Perform at RBC; PT 15 euros
* Vestas Reinstated Outperform at Bernstein; PT 1,415 kroner
* Vinci Reinstated Buy at Deutsche Bank; PT 101 euros
* Vodafone Resumed Overweight at Morgan Stanley; PT 200 pence
* Voestalpine Reinstated Neutral at Goldman; PT 34 euros

>>> Call
* Assa Abloy Value Seen Unlocked, Price Target Raised at Jefferies
* Porsche SE an Attractive Investment Route Into VW: Commerzbank
* Keywords Raised at Berenberg on Momentum ‘Too Strong to Ignore’
* Segro Upgraded at RBC With Multiples Now Less Demanding
* Peel Hunt Confident on Student Property Demand, Upgrades Unite
* Trelleborg Gets Street-High PT, Value Attractive: Morgan Stanley
* Vodafone Offers Deepest Value in European Telcos: Morgan Stanley
* Handelsbanken Terminates Coverage of Equinor, Hydro and Yara