>>> Europe : Brokers Upgrades & Downgrades - 5th of March 2021

>>> Up
* AB Dynamics Raised to Buy at N+1 Singer; PT 2,300 pence
* Alten PT Raised to 123 euros from 90 euros at Berenberg
* Bobst Raised to Buy at Stifel; PT 86 Swiss francs
* CFE Raised to Buy at ING; PT 110 euros
* Frontier Developments Raised to Buy at Panmure Gordon
* Netcompany Raised to Buy at SEB Equities; PT 640 kroner
* Nilfisk Raised to Buy at SEB Equities; PT 200 kroner
* Reach Raised to Hold at Peel Hunt; PT 200 pence
* Royal Unibrew Raised to Neutral at JPMorgan; PT 610 kroner
* Scout24 Raised to Outperform at RBC; PT 73 euros
* Subsea 7 Raised to Buy at Jefferies; PT 120 kroner

>>> Down
* Evotec SE Cut to Neutral at Citi
* Hyve Group Cut to Hold at Peel Hunt; PT 140 pence
* Maersk Drilling Cut to Hold at HSBC; PT 251 kroner
* Sixt Cut to Hold at Jefferies; PT 110 euros

>>> Initiation
* Adyen Rated New Buy at Stifel; PT 2,700 euros
* Carlsberg Reinstated Buy at HSBC; PT 1,260 kroner
* Gevelot Rated New Buy at IDMidcaps; PT 260 euros
* Nexi Rated New Hold at Stifel; PT 17.50 euros
* Rieter Reinstated at Add at Baader Helvea on March 4
* RWE Rated New Buy at Deutsche Bank; PT 35 euros
* UCB Reinstated Equal-Weight at Morgan Stanley; PT 105 euros
* VNV Global Rated New Buy at Jefferies
* WH Smith Reinstated Neutral at Exane; PT 2,050 pence

>>> Call
* Evotec Thesis Played Out, Downgraded at Citi After Re-Rating
* Sixt Still a Top Performer, Albeit Lacking Catalysts: Jefferies
* Subsea 7 Beating Competition on Renewables, Jefferies Ups to Buy
* UCB a Portfolio Transition Story, Equal-Weight: Morgan Stanley