>>> Europe : Brokers Upgrades & Downgrades - 9th of September 2020 - V(2)

>>> Up
* Axa Raised to Buy at Berenberg; PT 21.80 euros
* DSV Panalpina PT Raised to 1,074 kroner at Morgan Stanley
* Electrolux Raised to Buy at Handelsbanken; PT 220 kronor
* Equinor Raised to Neutral at SpareBank; PT 140 kroner
* Hunting Raised to Buy at BofA (+)
* IMI Raised to Hold at Berenberg; PT 995 pence
* Just Group Raised to Equal-Weight at Morgan Stanley
* Meggitt Raised to Hold at SocGen; PT 306 pence
* Munich Re Raised to Buy at Pareto Securities; PT 275 euros
* Pandora Raised to Buy at Citi; PT 570 kroner
* RAI Way Raised to Buy at Equita; PT 7.30 euros (+)
* TGS Raised to Buy at BofA (+)

>>> Down
* Airbus Cut to Equal-Weight at Morgan Stanley; PT 73 euros
* Carlsberg AS Cut to Sell at Handelsbanken; PT 800 kroner
* Dietswell Cut to Add at AlphaValue
* Electrolux Professional Cut to Hold at Handelsbanken
* Ferrovial Cut to Neutral at JPMorgan; PT 25 euros
* Husqvarna Cut to Hold at Handelsbanken; PT 100 kronor
* Mersen Raised to Buy at Oddo BHF; PT 31 euros (+)
* Naturgy Cut to Reduce at HSBC; PT 15.60 euros
* Sampo Cut to Hold at Berenberg; PT 43.70 euros
* Verbund Cut to Reduce at HSBC; PT 38 euros

>>> Initiation
* Aston Martin Rated New Outperform at Bernstein (+)
* BMW Rated New Outperform at Bernstein; PT 90 euros (+)
* Daimler Rated New Outperform at Bernstein (+)
* Danske Bank Rated New Equal-Weight at Barclays; PT 98 kroner
* DNB Rated New Underweight at Barclays; PT 118 kroner
* Ferrari Rated New Underperform at Bernstein (+)
* Fiat Chrysler Rated New Underperform at Bernstein; PT $8
* Getinge Rated New Buy at BofA; PT 245 kronor (+)
* G5 ENTERTAINMENT INITIATED AT SIDOTI, PT $54
* Handelsbanken Rated New Equal-Weight at Barclays; PT 86 kronor
* National Express Rated New Buy at Berenberg; PT 190 pence
* Nordea Bank Rated New Equal-Weight at Barclays; PT 7.10 kronor
* Peugeot Assumed Underperform at Bernstein (+)
* Porsche SE Reinstated Underperform at Bernstein; PT 60 euros
* Renault Rated New Outperform at Bernstein (+)
* RWS Holdings Rated New Buy at Jefferies; PT 761 pence
* SEB Rated New Underweight at Barclays; PT 72 kronor
* Shanta Gold Rated New Buy at Liberum; PT 23 pence
* Swedbank Rated New Overweight at Barclays; PT 176 kronor
* Trainline Rated New Buy at Berenberg; PT 520 pence
* Traton Rated New Underperform at Bernstein; PT 17 euros
* Volvo Rated New Outperform at Bernstein; PT 200 kronor
* VW Rated New Underperform at Bernstein (+)
* WH Smith Rated New Hold at Berenberg; PT 1,200 pence

>>> Call
* Airbus Faces ‘Down Year’ for Deliveries in 2021: Morgan Stanley
* Axa Upgraded to Buy at Berenberg on Confidence in Strategy
* AstraZeneca Trial Pause to Hurt Stock, Broader Market: Citi (+)
* Berenberg Sees Opportunities to Cherry-Pick U.K. Travel Plays
* Bernstein Quants Say Crowded Asia Stocks Vulnerable to U.S. Drop
* DSV Panalpina’s Market Offers Consolidation Opportunities: MS
* Pandora Gets Upgrade, Street-High PT at Citi on Brand Prospects
* Tod’s 2Q Results Difficult, Consensus Still Too High: Jefferies