>>> Europe : Brokers Upgrades & Downgrades - 26th of March 2020

>>> Up
* Aena Raised to Buy at HSBC; PT 140 euros
* AUTO TRADER RAISED TO BUY VS ADD AT PEEL HUNT, PT 545P
* Brenntag Raised to Buy at Nord/LB; PT 40 euros
* Coats Raised to Buy at Berenberg
* Demant Raised to Buy at Berenberg; PT 195 kroner
* DSV Panalpina Raised to Buy at Handelsbanken; PT 600 kroner
* DSV Panalpina Raised to Market Perform at Bernstein
* DSV Panalpina Raised to Buy at Sydbank
* GB Group Raised to Buy at Panmure Gordon; PT 690 pence
* HelloFresh Raised to Outperform at Exane; PT 32.50 euros
* Hera Raised to Outperform at Mediobanca SpA
* Jungheinrich Raised to Buy at HSBC; PT 20 euros
* Jyske Raised to Buy at ABG; PT 210 kroner
* Kainos Raised to Buy at Panmure Gordon; PT 750 pence
* MIPS AB Raised to Buy at Handelsbanken; PT 260 kronor
* Rentokil Raised to Buy at Goldman; PT 500 pence
* Sage Raised to Hold at Panmure Gordon; PT 620 pence
* Sartorius Raised to Hold at Berenberg; PT 208 euros
* Straumann Raised to Hold at Berenberg; PT 660 Swiss francs
* Subsea 7 Raised to Buy at Berenberg; PT 80 kroner
* TechnipFMC Raised to Buy at Berenberg; PT $12.50
* Temenos Raised to Hold at Jefferies; PT 111 Swiss francs
* Terveystalo Raised to Buy at Danske Bank Markets
* VIB Vermoegen Raised to Buy at SRC Research; PT 29 euros
* Vicat Raised to Buy at Citi

>>> Down
* Alstria Office PT Cut to 11 euros at Bankhaus Metzler
* Auto Trader Cut to Hold at HSBC; PT 410 pence
* Credit Agricole PT Cut to 5.70 euros from 10 euros at Berenberg
* EDF Cut to Hold at HSBC; PT 8.70 euros
* Engie Cut to Equal-Weight at Morgan Stanley; PT 13.80 euros
* Mowi Cut to Sell at Berenberg; PT 140 kroner
* SocGen PT Cut to 12 euros from 23 euros at Berenberg
* Spirax Cut to Hold at Berenberg
* SSP PT Cut to 420 pence from 760 pence at Morgan Stanley
* SThree Cut to Hold at HSBC; PT 245 pence

>>> Initiation
* EPROB SS Rated New Equal-Weight at Morgan Stanley; PT 36 kronor

>>> Call
* Berenberg Upgrades TechnipFMC, Subsea7 on Balance Sheet, Backlog
* Electrolux Professional Has Upside, More Visibility Needed: MS
* Engie Unlikely to Lead a Market Rebound, Morgan Stanley Says
* Medtech Sector’s Fundamentals Remain Robust, Berenberg Says