>>> Europe : Brokers Upgrades & Downgrades - 4th of January 2019

>>> Up
* Coty Upgraded to Neutral at JPMorgan; Price Target $7
* EssilorLuxottica Upgraded to Hold at DZ Bank; PT 111 Euros
* LSE Upgraded to Hold at Commerzbank; Price Target 44 Pounds
* Next Upgraded to Hold at Berenberg
* Nokia ADRs Upgraded to Outperform at BMO; PT $7.50
* Scandic Upgraded to Buy at SEB Equities; PT 90 Kronor
* Whitbread Upgraded to Overweight at Barclays; PT 52 Pounds

>>> Down
* GCP Infra Downgraded to Hold at Jefferies
* Sainsbury Downgraded to Reduce at HSBC; PT 2.30 Pounds

>>> Initiation
* Argenx Rated New Overweight at Morgan Stanley
* Monte Paschi Reinstated at SocGen With Sell; PT 20 Euros

>>> Call