>>> Europe : Brokers Upgrades & Downgrades - 28th of July 2020 - V2(+)

>>> Up
* Baloise Raised to Hold at HSBC; PT 157 Swiss francs
* BT Raised to Equal-Weight at Barclays; PT 130 pence
* Centrica Raised to Buy at Jefferies; PT 60 pence
* Faurecia SE Raised to Buy at MainFirst; PT 44 euros
* Faurecia SE Raised to Buy at SocGen; PT 44 euros (+)
* Finnair Raised to Buy at HSBC; PT 60 euro cents
* Games Workshop PT Raised to 9,500 pence at Peel Hunt (+)
* GEA Group Raised to Hold at M.M. Warburg; PT 30 euros (+)
* IMI Raised to Neutral at Credit Suisse; PT 1,150 pence (+)
* Immobel SA Raised to Buy at KBC Securities; PT 80 euros
* Jungheinrich Raised to Hold at Bankhaus Metzler; PT 26 euros (+)
* Scandic Raised to Hold at Jefferies; PT 32 kronor
* SES-imagotag Raised to Add at Portzamparc (+)

>>> Down
* ABB Cut to Sell at LBBW; PT 19 Swiss francs (+)
* Credito Emiliano Cut to Neutral at Banca Akros (ESN) (+)
* Iberdrola Cut to Neutral at Mediobanca SpA
* Mensch und Maschine Cut to Hold at LBBW; PT 50.25 euros (+)
* Pandora Cut to Hold at SEB Equities; PT 400 kroner
* Renishaw Cut to Equal-Weight at Morgan Stanley; PT 4,500 pence
* Tesla Cut to Underperform at Bernstein; PT $900
* Thales PT Cut to 62 euros from 73 euros at Morgan Stanley (+)

>>> Initiation
* DEFAMA AG Rated New Buy at Bankhaus Metzler; PT 20.50 euros (+)
* Deutsche Telekom Rated New Neutral at CaixaBank BPI
* Esker Rated New Buy at Berenberg; PT 165 euros
* Philips Rated New Buy at SocGen; PT 56 euros
* T-Mobile Rated New Outperform at Exane; PT $130

>>> Call
* Centrica Up to Buy After ‘Transformational’ Unit Sale: Jefferies
* Delivery Hero Continues to See Strong Growth, JPMorgan Says (+)
* LVMH 1H Was a ‘Complex Cocktail’ of Bad and Good News: Jefferies (+)
* Michelin 1H Better Than Expected, Guidance Cautious: Jefferies