>>> Europe : Brokers Upgrades & Downgrades -7th of July 2020 - V2(+)

>>> Up
* ABN AMRO GDRs Raised to Outperform at Exane; PT 9.70 euros
* Ageas SA/NV Raised to Buy at ABN Amro Bank; PT 40 euros (+)
* Commerzbank Raised to Overweight from UnderWeight at Morgan Stanley
* Danone Raised to Buy at Bryan Garnier; PT 70 euros (+)(
* EDP Raised to Buy at Berenberg; PT 5 euros
* EDP Renovaveis Raised to Buy at Berenberg; PT 14.50 euros
* Hansa Biopharma Raised to Outperform at RBC; PT 270 kronor (+)
* Hikma Raised to Overweight at Morgan Stanley; PT 2,600 pence
* Impax Asset Raised to Buy at Peel Hunt; PT 420 pence (+)
* Italgas Raised to Neutral at Citi; PT 5.20 euros
* Mol Raised to Buy at Renaissance Capital; PT 2,600 forint (+)
* Nestle Raised to Buy at Bryan Garnier; PT 118 Swiss francs (+)
* Schaeffler Raised to Buy at DZ Bank; PT 8 euros (+)
* Schindler Raised to Buy at UBS
* Schindler Raised to Buy at Berenberg; PT 275 Swiss francs
* Unite Group Raised to Add at Peel Hunt; PT 1,000 pence

>>> Down
* Credit Suisse Cut to Neutral at UBS; PT 10.90 Swiss francs
* DNB Cut to Sell at Handelsbanken; PT 125 kroner
* Ericsson Cut to Hold at Carnegie; PT 93 kronor (+)
* Flatex AG Cut to Hold at Hauck & Aufhaeuser; PT 44 euros
* Hexagon Cut to Sell at Handelsbanken; PT 512 kronor
* HBM Healthcare Cut to Add at Baader Helvea; PT 264 Swiss francs
* Kone Cut to Sell at UBS
* Nemetschek Cut to Underweight at Morgan Stanley; PT 49.50 euros
* Norma Cut to Reduce at Oddo BHF; PT 19 euros (+)
* Puma Cut to Hold at Hauck & Aufhaeuser (+)
* Saint-Gobain Cut to Hold at MainFirst; PT 29.50 euros
* SSE Cut to Hold at HSBC; PT 1,430 pence
* Unilever Cut to Neutral at Bryan Garnier; PT 51 euros (+)
* Whitbread Cut to Sell at SocGen; PT 2,260 pence
* Whitbread Cut to Sell at AlphaValue
* Wihlborgs Cut to Hold at Pareto Securities; PT 152 kronor (+)

>>> Initiation
* ASMI Rated New Overweight at Barclays; PT 180 euros
* Bachem Rated New Hold at Octavian; PT 210 Swiss francs
* Beazley Rated New Buy at Panmure Gordon; PT 510 pence
* Empiric Student Rated New Buy at Peel Hunt; PT 75 pence
* Enagas Resumed Sell at Citi; PT 17.20 euros
* Epiroc Rated New Sector Perform at RBC; PT 120 kronor
* FLSmidth Rated New Outperform at RBC; PT 265 kroner
* GCP Student Living Rated New Hold at Peel Hunt; PT 130 pence
* Hiscox Rated New Buy at Panmure Gordon; PT 910 pence
* Honeycomb Investment Rated New Buy at Jefferies
* Integra Rated New Speculative Buy at Cormark Securities; PT C$3
* Lancashire Rated New Hold at Panmure Gordon; PT 850 pence
* Metso Outotec Oyj Rated New Overweight at JPMorgan
* NB Global Floating Rated New Hold at Jefferies
* Osram Resumed Hold at Deutsche Bank; PT 41 euros
* Sequoia Economic Rated New Buy at Jefferies
* Uniphar Rated New Buy at Stifel; PT 3.10 euros (+)

>>> Call
* Commerzbank Double-Upgraded on Restructuring Potential: MS
* Croda Purchase of Avanti Could Be Accretive Over Time, Citi Says
* EDPR Needs to Step Up Its Ambitions, Berenberg Upgrades to Buy
* Eni To Face More Downgrades Amid 2020 Challenges, RBC Says
* JD Sports Shares to React Positively After FY Beat: Berenberg (+)
* Lloyd’s Insurers Beazley, Hiscox Best Placed for Growth: Panmure (+)
* Micro Focus Outlook Still Uncertain, Jefferies Says After Update (+)
* Nemetschek Cut to Underweight; MS Prefers Autodesk for Recovery
* Norma May Post a ‘Pronounced’ Second-Quarter Loss, Oddo BHF Says (+)
* Zalando Seen Reaching ‘Very High’ 2Q Profitability: Barclays (+)