>>> Europe : Brokers Upgrades & Downgrades - 29th of September 2020

>>> Up
* Beiersdorf Raised to Hold at Berenberg; PT 94 euros
* Ceres Power PT Raised to 720 pence from 540 pence at Liberum
* Cloetta Raised to Buy at Handelsbanken; PT 27 kronor
* Hapag-Lloyd Raised to Buy at Jefferies; PT 58 euros
* Maersk Raised to Buy at Jefferies; PT 12,500 kroner
* Maersk Raised to Buy at Goldman; PT 12,700 kroner
* Paradox Interactive Raised to Buy at Jefferies; PT 338 kronor
* Pattern Raised to Buy at Corporate Family Office; PT 5 euros
* Platzer Raised to Buy at Handelsbanken; PT 110 kronor
* SLM Solutions Raised to Buy at Deutsche Bank; PT 15 euros
* Standard Life Aberdeen Raised to Overweight at JPMorgan
* Telenet Raised to Overweight at Barclays; PT 40 euros

>>> Down
* ConvaTec Cut to Sector Perform at RBC; PT 200 pence
* Next Cut to Sell at Berenberg; PT 4,500 pence
* Sacyr Cut to Neutral at CaixaBank BPI; PT 2.40 euros
* Sirio Cut to Hold at Alantra Capital; PT 5 euros
* William Hill Cut to Hold at Peel Hunt; PT 275 pence

>>> Initiation
* Amundi Rated New Outperform at RBC; PT 71 euros
* AstraZeneca Rated New Buy at Berenberg; PT 10,500 pence
* DWS Rated New Sector Perform at RBC; PT 31 euros
* Epiroc Rated New Buy at SocGen; PT 150 kronor
* FLSmidth Rated New Hold at SocGen; PT 210 kroner
* Glaxo Rated New Buy at Berenberg; PT 1,800 pence
* Knights Rated New Hold at Peel Hunt; PT 440 pence
* Litigation Capital Management Rated New Buy at Investec
* Metso Outotec Rated New Buy at SocGen; PT 8 euros
* Novartis Rated New Buy at Berenberg; PT 96 Swiss francs
* Novo Nordisk Rated New Hold at Berenberg; PT 430 kroner
* Roche Rated New Hold at Berenberg; PT 350 Swiss francs
* Sanofi Rated New Hold at Berenberg; PT 92 euros
* Schroders Rated New Underperform at RBC; PT 2,300 pence
* Technogym Rated New Buy at MainFirst; PT 9.50 euros
* Wizz Air Rated New Outperform at Bernstein; PT 4,500 pence

>>> Call
* Amundi Preferred Asset Manager Pick, Schroders Overvalued: RBC
* Barclays Valuation is a ‘Crying Shame,’ Jefferies Says
* Beiersdorf Fairly Valued After Covid Slump, Berenberg Says
* Buy Hapag-Lloyd, Maersk, Stars ‘Aligning’ in Sector: Jefferies
* Lundin Mining Market Value Loss After Updates ‘Overdone’: MS
* U.K. Retail Outlook a ‘Mixed Bag,’ Next Cut to Sell: Berenberg