>>> Europe : Brokers Upgrades & Downgrades - 9th of September 2021

>>> Up
* Adyen Raised to Outperform at Exane; PT 3,600 euros
* Banco Santander Raised to Hold at Jefferies; PT 3.10 euros
* Beiersdorf Raised to Buy at Goldman; PT 122 euros
* Boohoo Raised to Outperform at Credit Suisse; PT 350 pence
* CONVATEC RAISED TO OVERWEIGHT AT JPMORGAN, PT 272P
* Grainger Raised to Buy at Peel Hunt; PT 370 pence
* Holcim Raised to Outperform at Exane; PT 63.50 Swiss francs
* ISS Raised to Hold at Handelsbanken; PT 145 kroner
* Pernod Ricard Raised to Overweight at JPMorgan; PT 225 euros


>>> Down
* Buzzi Unicem Cut to Neutral at Exane; PT 24.50 euros
* Draper Esprit Cut to Hold at Jefferies; PT 1,200 pence
* Henkel Cut to Neutral at Goldman; PT 84 euros
* Norsk Hydro Raised to Buy at SpareBank; PT 75 kroner
* Novatek GDRs Cut to Hold at Renaissance Capital; PT $282.50
* Red Electrica Cut to Sell at UBS
* UBS Group Cut to Market Perform at KBW; PT 16.14 Swiss francs

>>> Initiation
* Befesa Resumed Neutral at Citi; PT 78 euros
* Carrefour Resumed Buy at SocGen; PT 19.50 euros
* Essity Rated New Reduce at HSBC; PT 235 kronor
* IntegraFin Rated New Sector Perform at RBC; PT 610 pence
* INWIT Rated New Overweight at JPMorgan; PT 12.50 euros
* Ontex Rated New Hold at HSBC; PT 9 euros
* Vossloh Rated New Hold at Jefferies; PT 53 euros

>>> Call
* ConvaTec Potential Not Priced In, Raise to Overweight: JPMorgan
* Tower Stocks Still Offer Upside, Cellnex Top Pick: JPMorgan
* Draper Esprit Cut to Hold at Jefferies Following Surge in Shares
* Grainger a Compelling Story With Dividend Upside, Peel Hunt Says
* Santander Raised at Jefferies With FY21 Expectations Achievable
* Tecan at Start of ‘Growth Offensive,’ Berenberg Hikes PT
* Tod’s 2Q Shows Improvement in Some Channels, Regions: Jefferies
* Wind’s Long-Term Fundamentals Underlined by U.S. Report: Citi