>>> Europe : Brokers Upgrades & Downgrades - 3rd of March 2021

>>> Up
* Bunzl Raised to Buy at Peel Hunt
* Carnival Plc Raised to Outperform at Macquarie; PT 2,200 pence
* Cegedim Raised to Buy at Gilbert Dupont; PT 29.50 euros (+)
* Daimler Raised to Buy at DZ Bank; PT 82 euros (+)
* Europcar Raised to Hold at HSBC; PT 27 euro cents
* Hermes International Raised to Neutral at JPMorgan; PT 755 euros
* Johnson Matthey PT Raised to 3,700 pence at Berenberg
* Julius Baer Raised to Buy at HSBC; PT 66 Swiss francs
* Lehto Group Raised to Buy at Handelsbanken; PT 2.20 euros
* Lindt & Spruengli Raised to Reduce at AlphaValue
* Lundbergforetagen Raised to Hold at Handelsbanken; PT 440 kronor
* Moneysupermarket Raised to Buy at Peel Hunt; PT 360 pence
* Norsk Hydro Raised to Add at AlphaValue
* OSB Group Raised to Buy at Peel Hunt; PT 600 pence
* Piaggio PT Raised to 3.80 euros at Banca Akros (ESN) (+)
* Richemont Raised to Overweight at JPMorgan; PT 105 Swiss francs
* Sage Raised to Neutral at Goldman; PT 575 pence
* Sixt Raised to Buy at DZ Bank; PT 122 euros (+)
* Ubisoft Raised to Buy at Citi; PT 90 euros

>>> Down
* Addiko Cut to Hold at Erste Group; PT 11.30 euros
* AKVA Cut to Hold at Norne Securities; PT 95 kroner (+)
* Europris Cut to Sell at Arctic Securities; PT 48 kroner
* Johnson Matthey Cut to Hold at Stifel; PT 3,300 pence (+)
* Safran Cut to Equal-Weight at Barclays; PT 120 euros
* Sportech Cut to Hold at Peel Hunt; PT 32 pence (+)
* Tallink Cut to Sell at SEB Equities; PT 60 euro cents
* Wizz Air Cut to Reduce at HSBC; PT 4,400 pence

>>> Initiation
* AO World Reinstated Buy at Panmure Gordon; PT 575 pence
* Asos Reinstated Hold at Panmure Gordon; PT 4,900 pence
* B&M European Rated New Sell at Panmure Gordon; PT 440 pence
* Dixons Carphone Rated New Sell at Panmure Gordon; PT 80 pence
* Dixons Carphone Resumed Overweight at Morgan Stanley
* Dunelm Reinstated Hold at Panmure Gordon; PT 1,150 pence
* Halma Reinstated Reduce at Peel Hunt; PT 2,067 pence (+)
* Kingfisher Reinstated Sell at Panmure Gordon; PT 220 pence
* Marks & Spencer Reinstated Hold at Panmure Gordon; PT 150 pence
* Next Reinstated Hold at Panmure Gordon; PT 6,800 pence
* Pets at Home Reinstated Hold at Panmure Gordon; PT 345 pence
* Severn Trent Reinstated Hold at SocGen; PT 2,380 pence
* Stadler Rail Rated New Neutral at JPMorgan; PT 46 Swiss francs
* WH Smith Reinstated Hold at Panmure Gordon; PT 1,600 pence

>>> Call
* Dixons Carphone Cheap, With Upcoming Catalysts: Morgan Stanley
* Kuehne + Nagel 4Q Beat, Dividend Higher Than Expected: Bernstein (+)
* Lundbergs Premium Turns Justifiable, Raised at Handelsbanken
* OSB Gets Another Buy Rating as Peel Upgrades on U.K. Rates (+)
* Ubisoft Long-Term Prospects Are Robust, Citi Upgrades to Buy