>>> Europe : Brokers Upgrades & Downgrades - 27th of July 2020 - V2(+)

>>> Up
* Aroundtown Raised to Buy at Deutsche Bank; PT 7 euros
* Brenntag Raised to Hold at Bankhaus Metzler; PT 54 euros (+)
* Consti Raised to Buy at Evli Bank; PT 10 euros (+)
* Covestro Raised to Hold at MainFirst; PT 35 euros
* Daimler Raised to Buy at Deutsche Bank; PT 50 euros
* Deutsche Post PT Raised at Barclays on Protections From Crisis (+)
* Ebro Foods Raised to Outperform at BBVA; PT 23.30 euros
* Indivior Raised to Buy at Citi; PT 165 pence
* Indivior Raised to Buy at Jefferies; PT 200 pence
* Indivior Raised to Buy at Stifel; PT 190 pence (+)
* Kingfisher PT Raised to 325 pence from 275 pence at RBC
* Lonza PT Raised to 620 Swiss francs at Intron Health
* Loomis Raised to Buy at Carnegie; PT 255 kronor (+)
* National Grid Raised to Buy at Jefferies; PT 1,060 pence
* Sabre Insurance Raised to Add at Investec; PT 275 pence (+)
* Sonova Raised to Equal-Weight at Morgan Stanley
* Swatch Raised to Outperform at Credit Suisse (+)
* TietoEVRY Raised to Buy at Oddo BHF (+)

>>> Down
* Autogrill Cut to Reduce at Banca Akros (ESN); PT 4.50 euros (+)
* Bankinter Cut to Sell at SocGen; PT 3.80 euros (+)
* Getlink SE Cut to Hold at HSBC; PT 14.30 euros
* Kinnevik Cut to Hold at SEB Equities; PT 295 kronor
* Sage Cut to Underweight at JPMorgan; PT 600 pence
* Sika Cut to Hold at HSBC; PT 217 Swiss francs
* TietoEVRY Cut to Hold at SEB Equities; PT 28 euros

>>> Initiation
* Cegedim Rated New Neutral at Oddo BHF; PT 34 euros (+)
* Epiroc Rated New Buy at Liberum; PT 170 kronor
* GVS Rated New Neutral at Goldman; PT 10.20 euros
* GVS Rated New Neutral at Mediobanca SpA; PT 11.70 euros
* Idorsia Rated New Equal-Weight at Morgan Stanley
* Oxford Biomedica Rated New Outperform at RBC; PT 1,000 pence
* Serco Rated New Buy at Berenberg; PT 195 pence
* Schaltbau Rated New Buy at Commerzbank; PT 33 euros
* Swedish Match Rated New Buy at SocGen; PT 800 kronor
* Zurich Airport Rated New Buy at Deutsche Bank

>>> Call
* AB InBev Set for ‘Tough’ 2Q Update, Margins Will Hurt: Bernstein (+)
* Atos 1H Sales ‘Broadly in Line,’ Cash Flow Weaker, Citi Says (+)
* Indivior Up to Buy at Citi, Jefferies After Suboxone Settlement
* Kingfisher PT to Street-High at RBC as Strategy Issues Addressed
* Kuehne + Nagel Is a ‘Port in a Storm,’ Bernstein Still Bullish
* National Grid Raised at Jefferies on ‘Opportunistic Opening’
* Ryanair 1Q Results Ahead, Virus-Related Challenges Remain: Citi (+)
* SAP’s Qualtrics IPO Plan Raises Integration Questions: Jefferies (+)
* Serco Gets Street-High PT at Berenberg on Strong Margin Outlook
* U.S. SOFTWARE INDUSTRY VIEW CUT TO IN-LINE AT MORGAN STANLEY
* VODAFONE NEW S-T CATALYST CALL BUY AT DEUTSCHE BANK
* Zurich Airport Is Preferred Way to Play Recovery: Deutsche Bank (+)