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

>>> Up
* Amplifon Raised to Buy at Jefferies; PT 34 euros
* Avance Gas Raised to Buy at Cleaves Securities
* Covestro Raised to Buy at Commerzbank; PT 50 euros
* Gerresheimer Raised to Buy at Bankhaus Metzler; PT 122 euros
* Hikma Raised to Overweight at Barclays; PT 2,800 pence
* Ontex Raised to Buy at KBC Securities; PT 18 euros
* RSA Raised to Buy at Investec; PT 490 pence (+)
* Sampo Raised to Buy at HSBC; PT 40 euros
* Zalando PT Raised to 89 euros from 85 euros at M.M. Warburg (+)

>>> Down
* Cembra Money Bank Cut to Hold at Octavian; PT 108 Swiss francs (+)
* Hiscox Cut to Hold at Investec; PT 820 pence (+)
* Hypoport SE Cut to Sell at Bankhaus Metzler; PT 415 euros
* Lancashire Cut to Add at Investec; PT 805 pence (+)
* NCC Raised to Buy at Canaccord; PT 210 pence (+)
* Pernod Ricard Cut to Neutral at Citi; PT 150 euros

>>> Initiation
* Cellnex Resumed Overweight at Morgan Stanley; PT 70 euros
* Corestate Rated New Hold at MainFirst; PT 19 euros
* Knorr-Bremse Rated New Buy at SocGen; PT 125 euros
* Quantafuel Rated New Buy at Arctic Securities; PT 125 kroner

>>> Call
* Bankia, CaixaBank Merger Would Offer Modest Upside: Jefferies (+)
* Berkeley Update Reassures, But Consensus Likely Unchanged: Citi (+)
* Hearing Aid Margin Upside Underrated, Amplifon to Buy: Jefferies
* Hikma Up to Overweight After Positive Vascepa Ruling: Barclays
* Cellnex Has M&A Firepower, Resume Overweight: Morgan Stanley
* Covestro Rating Up as Volume, Margins Recover, Commerzbank Says
* Gerresheimer Has Chance to Expand Margins, Revaluate: Metzler (+)
* Hikma Up to Overweight After Positive Vascepa Ruling: Barclays
* NCC Group Navigated Pandemic Well, Canaccord Genuity Says (+)
* Ontex Holder Activism Provides ‘Electroshock’: KBC Securities
* Pernod Vulnerable to Earnings Downgrades, De-Rating, Citi Says
* Ryanair Share Placing a Surprise, Doesn’t Change Outlook: Citi (+)
* Westwing’s Elevated Demand Level Seems More Sustained Now: Citi (+)