>>> Europe : Brokers Upgrades & Downgrades - 4th of November 2020 - V2(+)

>>> Up
* Aker Solutions Raised to Buy at Pareto Securities; PT 13 kroner
* BCP Raised to Buy at AlphaValue
* Big Yellow Group Raised to Overweight at JPMorgan
* BNP Paribas Raised to Buy at AlphaValue
* Daetwyler Raised to Buy at Baader Helvea; PT 253 Swiss francs
* Gem Diamonds Raised to Buy at Liberum; PT 60 pence
* HelloFresh Raised to Hold at DZ Bank; PT 46 euros (+)
* Jyske Raised to Buy at Danske Bank Markets; PT 230 kroner (+)
* Land Sec. Raised to Buy at Liberum
* Lukoil GDRs Raised to Buy at VTB Capital; PT $70
* Norway Royal Salmon Raised to Buy at Pareto Securities
* Novatek GDRs Raised to Buy at VTB Capital; PT $174
* Pandora Raised to Buy at Danske Bank Markets; PT 630 kroner (+)
* REC Silicon Raised to Buy at Arctic Securities; PT 19 kroner
* Royal Mail Raised to Overweight at JPMorgan; PT 374.20 pence
* Shurgard Self Storage Raised to Overweight at JPMorgan
* Sinch Raised to Hold at Handelsbanken; PT 920 kronor
* Spire Healthcare Raised to Outperform at RBC; PT 169 pence
* Surgutneftgas GDRs Raised to Buy at VTB Capital; PT $5.30
* Umicore Raised to Equal-Weight at Morgan Stanley; PT 30 euros

>>> Down
* Corbion Cut to Hold at Berenberg; PT 44 euros
* Dufry Cut to Neutral at Oddo BHF; PT 38 Swiss francs
* Sandvik Cut to Hold at Nordea (+)
* TwentyFour Income Fund Cut to Hold at Stifel (+)

>>> Initiation
* Calnex Solutions Rated New Buy at Cenkos Securities (+)
* Hydrogenpro Rated New Buy at Pareto Securities; PT 70 kroner
* VERBIO Vereinigte Rated New Buy at Hauck & Aufhaeuser (+)

>>> Call
* Ahold’s EPS Outlook Seems ‘Very Conservative,’ Berenberg Says (+)
* Axa Update Reassuring, Should Underpin Shares, Analysts Say
* Bpost 3Q ‘Stellar’, Overshadowed by Ransomware: Jefferies
* Brenntag’s 3Q Cash Flow Performance ‘Outstanding’: Warburg (+)
* Burckhardt’s 1H Results In Line, ZKB Points to U.S. Impact (+)
* Corbion Cut as Attractions No Longer Undervalued: Berenberg
* Fraport 3Q Miss, Forecast Indicate ‘Significant Downgrades’: RBC (+)
* Sandvik’s Capital Markets Day Didn’t Convince, Jefferies Says
* Umicore Challenges Now Better Reflected, Morgan Stanley Says
* Zalando 3Q ‘Very Strong’ on Partner Program and Lounge: Baader (+)