>>> Europe : Brokers Upgrades & Downgrades - 3rd of July 2020 V2(+)

>>> Up
* ALD Raised to Outperform at Credit Suisse; PT 10.70 euros (+)
* Aptitude Software Group Raised to Buy at Investec; PT 500 pence (+)
* Auto Trader Raised to Buy at HSBC; PT 650 pence
* HeidelbergCement Raised to Overweight at Morgan Stanley
* Landis + Gyr Raised to Equal-Weight at Morgan Stanley
* Sandvik Raised to Equal-Weight at Barclays; PT 170 kronor

>>> Down
* AB Foods Cut to Neutral at Goldman; PT 2,360 pence
* Chr. Hansen Cut to Hold at Danske Bank Markets; PT 720 kroner (+)
* DNB Cut to Hold at SEB Equities; PT 140 kroner
* Europcar Cut to Hold at HSBC; PT 2.30 euros
* Forterra Cut to Hold at Goodbody; PT 323 pence
* John Laing Group Cut to Add at Investec; PT 320 pence
* Neles Oyj Cut to Hold at SEB Equities; PT 9.30 euros
* Next Cut to Sell at Goldman; PT 4,400 pence
* Software AG Cut to Hold at DZ Bank; PT 37 euros (+)

>>> Initiation
* 2020 Bulkers Rated New Buy at Arctic Securities; PT 103 kroner
* Genmab Rated New Sell at SocGen; PT 1,620 kroner
* GN Store Nord Rated New Outperform at Exane; PT 425 kroner
* Hafnia Rated New Buy at Arctic Securities; PT 25 kroner
* Manolete Partners Rated New Buy at Liberum; PT 710 pence (+)
* Scandic Re-Initiated Hold at Handelsbanken; PT 35 kronor

>>> Call
* Cause for Some Optimism as U.K. Pubs Reopen, Berenberg Says
* Cement Stocks Well Placed, HeidelbergCement Double-Upgraded: MS
* CMC Estimates Raised After ‘Yet Another’ Positive Update: RBC (+)
* Delivery Hero 2Q ‘Meaningfully Ahead of Expectations:’ Berenberg (+)
* Fevertree Price Target Raised at Jefferies on ‘Recent Momentum’ (+°
* Genmab Gets Sell Initiation as SocGen Frets Over Patent Expiry
* Land Securities Dividend Guidance Likely to Be Welcome: Goodbody (+)
* Landis + Gyr Upgraded at Morgan Stanley on Valuation Grounds (+)
* RSA Shares Oversold as Virus Impact Limited, Peel Hunt Says (+)