Five New Ratings, Three Neutrals, One Downgrade, Two Outperform
I don't think you can call the the Credit Suisse report a downgrade. Their rating went from Restricted to Neutral. LINE has been rated Restricted by CS for a while. It's been a while since they had LINE at Outperform. And they've had a $ 40 price target throughout November, at least.
And CS also came out with a similar rating on LNCO, which is what I own. They made a big mistake about taxation of LINE. I think that mistake overstated the appropriate LNCO/LINE discount.
Credit Suisse was one of the brokers involved in the LNCO offering. So during what used to be called the quiet period - about a month after the transaction, they aren't supposed to be touting the stock. And since LNCO is basically a derivative of LINE, CS went silent on LINE also. So it's been on their restricted list for about a month now. Probably true for the other non-lead brokers on the LNCO deal, which is why you would expect to see ratings coming out about now.