>>> Europe : Brokers Upgrades & Downgrades - 6th of July 2021

>>> Up
* Beazley Raised to Overweight at JPMorgan; PT 452 pence
* Devro Raised to Buy at Peel Hunt; PT 230 pence
* Hiscox Raised to Overweight at JPMorgan; PT 1,016 pence
* ProSieben Raised to Equal-Weight at Morgan Stanley; PT 18 euros
* Rexel Raised to Buy at Citi; PT 22 euros
* NatWest Raised to Overweight at Barclays; PT 250 pence
* TBC Bank Group Raised to Buy at Wood & Company; PT 1,430 pence (+)
* Virbac Raised to Outperform at Oddo BHF; PT 333 euros (+)

>>> Down
* British Land Cut to Hold at Jefferies; PT 525 pence
* flatexDEGIRO Cut to Hold at Hauck & Aufhaeuser; PT 122 euros (+)
* Halfords Cut to Hold at Panmure Gordon; PT 450 pence
* Kloeckner Cut to Hold at Bankhaus Metzler; PT 13 euros (+)
* Lancashire Cut to Neutral at JPMorgan; PT 725 pence
* Land Sec. Cut to Hold at Jefferies; PT 725 pence
* Lindt & Spruengli Cut to Market Perform at Bernstein
* Reckitt Cut to Underperform at Bernstein; PT 6,000 pence
* Signify Cut to Neutral at Citi; PT 58 euros
* TomTom Cut to Add at AlphaValue

>>> Initiation
* Barry Callebaut Rated New Buy at Citi; PT 2,500 Swiss francs
* Gfinity Rated New Buy at Canaccord; PT 8.60 pence (+)
* Lotus Bakeries Rated New Buy at Berenberg

>>> Call
* Barry Callebaut’s Model Improved, Citi Says Stock Worth Buying (+)
* Bernstein Sees Inflation Hitting HPC Sector, Cuts Reckitt, Lindt (+)
* British Land, Land Securities Cut on Payout Pressure: Jefferies
* Goldman Says Stock Indicators Remain Stretched, Reversal Eyed (+)
* Purplebricks Results ‘Bang in Line,’ Shares Have Upside: Peel (+)
* Sainsbury’s Strong Sales Growth Driven by Grocery: Jefferies (+)
* Sartorius Boosts Guidance After Strong Results: Deutsche Bank (+)