>>> Europe : Brokers Upgrades & Downgrades - 26th of February 2021 V2(+)

>>> Up
* Avast Raised to Accumulate at Erste Group; PT 534.73 pence
* Commerzbank Raised to Buy at Bankhaus Metzler; PT 7 euros (+)
* Grafton PT Raised to 1,190 pence from 1,060 pence at Peel Hunt
* HSBC Raised to Reduce at AlphaValue
* HSBC Raised to Hold at SocGen; PT 415 pence (+)
* Nexity Raised to Reduce at AlphaValue
* Puma Raised to Add at Baader Helvea; PT 95 euros
* Sandvik Raised to Buy at HSBC; PT 260 kronor
* Schroders Raised to Equal-Weight at Morgan Stanley
* Valora Raised to Add at Baader Helvea; PT 215 Swiss francs
* Veolia Raised to Buy at DZ Bank; PT 26.50 euros (+)

>>> Down
* City Pub Cut to Sell at Panmure Gordon; PT 110 pence
* Entain PLC Cut to Neutral at JPMorgan (+)
* ISS Cut to Hold at Danske Bank Markets (+)
* Krones Cut to Hold at HSBC; PT 81 euros
* Ontex Cut to Neutral at JPMorgan; PT 10 euros
* Reka Industrial Oyj Cut to Sell at Inderes; PT 3 euros
* Salmar Cut to Hold at Pareto Securities; PT 600 kroner
* Subsea 7 Cut to Hold at SEB Equities; PT 97 kroner
* Unibail Cut to Sector Perform at RBC; PT 67 euros (+)

>>> Initiation
* Danone ADRs Rated New Equal-Weight at Morgan Stanley; PT $14
* Geberit Reinstated Hold at Deutsche Bank; PT 530 Swiss francs
* Hexpol Rated New Sell at Berenberg; PT 84 kronor
* InPost Rated New Hold at HSBC; PT 20 euros
* Johnson Service Rated New Buy at Berenberg; PT 190 pence
* Kingspan Reinstated Hold at Deutsche Bank; PT 65 euros
* Passat Reinstated Buy at IDMidcaps; PT 10 euros
* Sika Reinstated Buy at Deutsche Bank; PT 295 Swiss francs
* Unibail Rated New Hold at SocGen; PT 63 euros

>>> Call
* Hexpol Valuation Too High, Gets New Sell Rating at Berenberg
* Lagardere Ebit Beat Driven by Publishing, Goldman Says (+)
* Ontex Cut at JPMorgan as Unclear Recovery Path Disappoints (+)
* Saint-Gobain’s Upbeat Outlook, Margin View Welcome: Jefferies
* Suez Earnings, Guidance Both Ahead of Expectations: Jefferies (+)
* Teleperformance LFL Growth ‘Astonishing,’ Morgan Stanley Says (+)