>>> Europe : Brokers Upgrades & Downgrades - 15th of November 2019

>>> Up
* Atlas Copco Cut to Sector Perform at RBC; PT 340 kronor
* Experian Raised to Hold at Deutsche Bank
* Whitbread Raised to Overweight at Barclays; PT 4,900 pence

>>> Down
* Berkeley Cut to Sell at Goldman; PT 3,860 pence
* Elekta Cut to Hold at SEB Equities; PT 145 kronor
* Julius Baer Cut to Underperform at Mediobanca SpA
* Norma Cut to Hold at HSBC; PT 41 euros
* Semperit Cut to Hold at HSBC; PT 13 euros
* Standard Chartered Cut to Underperform at Exane; PT 610 pence
* Virgin Money UK Cut to Underperform at Davy; PT 127 pence
* Workspace Cut to Sell at Berenberg; PT 950 pence

>>> Initiation
* Enagas Reinstated Underweight at Barclays; PT 16.90 euros
* Genus Rated New Hold at Jefferies; PT 3,272 pence Italgas Reinstated Equal-Weight at Barclays; PT 6 euros
* Italgas Reinstated Equal-Weight at Barclays; PT 6 euros
* M&G Rated New Buy at HSBC; PT 295 pence
* Merck KGaA Assumed Hold at Bankhaus Lampe; PT 113 euros
* Red Electrica Reinstated Underweight at Barclays
* Snam Reinstated Overweight at Barclays; PT 5 euros
* Terna Reinstated Equal-Weight at Barclays; PT 6 euros

>>> Call
* J. Martins Cut to Neutral at JB Capital Markets; PT 16.60 euros
* Sixt Preference Stock Cut, Berenberg Says Consensus Too High

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:

  • NBEV -11.6%, WB -9.6%, SINA -7.7%, CGC -7%, BZH -5.9%, CSCO -5.5%, WIX -4.9%, PSNL -3.6%, GDS -3.3%, TCOM -2.7%, NTAP -1.3%, CTRA -1.3%

Other news:

  • FLGT -12% (prices underwritten public offering of 2.325 mln shares of its common stock at a public offering price of $11.25 per share)
  • KDMN -5.9% (prices offering of 26 mln shares of its common stock at a public offering price of $3.40 per share)
  • BCRX -4.4% (prices offering of 37,931,035 shares of common stock at $1.45 per share)
  • VRRM -3.1% (announces secondary offering of 15,000,000 shares of common stock by holders)
  • CYBR -1.7% (prices $500 mln of 0% Convertible Senior Notes due 2024 )
  • I -1% (extending yesterday's nearly 30% decline)

Analyst comments:

  • CDLX -2.3% (downgraded to Neutral from Overweight at JP Morgan)
  • SBH -2.3% (downgraded to Underperform from Neutral at DA Davidson)
  • KHC -2% (downgraded to Sell from Neutral at Goldman)
  • HEES -1.4% (downgraded to Neutral from Buy at BofA/Merrill)
  • DE -1.3% (downgraded to Neutral from Buy at BofA/Merrill)
  • EMR -1% (downgraded to Reduce from Hold at HSBC Securities)
  • AAPL -0.4% (downgraded to Sell at Maxim Group)