>>> Europe : Brokers Upgrades & Downgrades - 26th of March 2020 V2(+)

>>> Up
* 888 Raised to Buy at Stifel; PT 145 pence (+)
* Aena Raised to Buy at HSBC; PT 140 euros
* Aker BP Raised to Buy at SpareBank; PT 195 kroner (+)
* AUTO TRADER RAISED TO BUY VS ADD AT PEEL HUNT, PT 545P
* Bayer Raised to Buy at M.M. Warburg; PT 66 euros (+)
* 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
* Dialog Semi Raised to Hold at Bankhaus Lampe; PT 25 euros (+)
* Draegerwerk Raised to Hold at Hauck & Aufhaeuser; PT 75 euros (+)
* 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
* Grifols Raised to Buy at Berenberg; PT 35 euros (+)
* HelloFresh Raised to Outperform at Exane; PT 32.50 euros
* Hera Raised to Outperform at Mediobanca SpA
* Hiag Immobilien Raised to Buy at Research Partners (+)
* 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
* Lanxess Raised to Buy at SocGen; PT 51 euros (+)
* Maha Raised to Buy at SpareBank; PT 17 kronor (+)
* MIPS AB Raised to Buy at Handelsbanken; PT 260 kronor
* Nokia Raised to Buy at Oddo BHF; PT 3.70 euros (+)
* Panoro Energy Raised to Buy at SpareBank; PT 15 kroner (+)
* Rentokil Raised to Buy at Goldman; PT 500 pence
* Richemont Raised to Neutral at UBS; PT 54 Swiss francs (+)
* Sage Raised to Hold at Panmure Gordon; PT 620 pence
* Sartorius Raised to Hold at Berenberg; PT 208 euros
* Siltronic Raised to Buy at Bankhaus Lampe; PT 80 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
* Zalando Raised to Buy at Hauck & Aufhaeuser; PT 48 euros (+)

>>> Down
* Aker Solutions Cut to Neutral at SpareBank; PT 8 kroner (+)
* Alstria Office PT Cut to 11 euros at Bankhaus Metzler
* Auto Trader Cut to Hold at HSBC; PT 410 pence
* Borr Drilling Cut to Sell at SpareBank; PT 1 krone (+)
* Burberry PT Cut to 912 pence from 1,415 pence at UBS (+)
* Credit Agricole PT Cut to 5.70 euros from 10 euros at Berenberg
* Credit Suisse Cut to Hold at DZ Bank; PT 8.50 Swiss francs (+)
* EDF Cut to Hold at HSBC; PT 8.70 euros
* Engie Cut to Equal-Weight at Morgan Stanley; PT 13.80 euros
* Fila Cut to Accumulate at Banca Akros (ESN); PT 10.20 euros (+)
* Mowi Cut to Sell at Berenberg; PT 140 kroner
* Net Insurance Cut to Accumulate at Banca Akros (ESN) (+)
* PGS ASA Cut to Neutral at SpareBank; PT 4 kroner (+)
* Polarcus Cut to Sell at SpareBank; PT 0.10 kroner (+)
* RBS Cut to Hold at Investec; PT 140 pence (+)
* Rentokil Cut to Neutral at JPMorgan; PT 430 pence (+)
* Shelf Drilling Cut to Neutral at SpareBank; PT 10 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
* Swatch PT Cut to 144 Swiss francs from 165 Swiss francs at UBS (+)
* Tod's PT Cut to 19.80 euros from 26 euros at UBS (+)
* XP Power Cut to Hold at Stifel; PT 2,750 pence (+)

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

>>> Call
* Berenberg Upgrades TechnipFMC, Subsea7 on Balance Sheet, Backlog
* DSV’s Recovery Will Be Swift When Demand Returns, SHB Says (+)
* Electrolux Professional Has Upside, More Visibility Needed: MS
* Engie Unlikely to Lead a Market Rebound, Morgan Stanley Says
* Intu Facing ‘Significant’ Hit from Virus Disruption: Berenberg (+)
* Medtech Sector’s Fundamentals Remain Robust, Berenberg Says
* Reckitt Benckiser a Top Pick on Health, Hygiene Exposure: MS
* European Dividends Will Take ‘Severe Hit’ From Virus Impact: MS