>>> Europe : Brokers Upgrades & Downgrades - 31st of December 2019

>>> Up
* Siemens Healthineers Raised to Reduce at AlphaValue
* Spar Nord Raised to Hold at SEB Equities; PT 62 kroner
* Sydbank Raised to Hold at SEB Equities; PT 133 kroner

>>> Down


>>> Initiation
* FDJ Rated New Neutral at Citi; PT 25 euros
* FDJ Rated New Neutral at Goldman; PT 25.50 euros

>>> Call
* FDJ a French ‘National Champion’ But Valuation Full, Citi Says