Mapfre downgraded to Sell from Hold at Berenberg

Berenberg downgraded Mapfre to Sell from Hold with a price target of EUR 1.62, down from EUR 1.94. The stock’s valuation looks full and earnings revisions are likely to be minimal, the analyst tells investors in a research note. The firm says consensus estimates already forecast "very strong" profits in Brazil and Latin America, which leaves no room for disappointment.