>>> Europe : Brokers Upgrades & Downgrades - 12th of October 2022

>>> Up
* Morgan Advanced Raised to Outperform at RBC; PT 330 pence
* Orsted Raised to Neutral at Citi; PT 579 kroner
* Sinopec ADRs Raised to Neutral at Goldman; PT $51.02

>>> Down
* Avanza Downgraded to Sell at Citi on Weaker Savings Outlook
* Brenntag Cut to Equal-Weight at Barclays; PT 84 euros
* Covivio Cut to Neutral at Goldman; PT 50.50 euros
* Fuller Smith & Turner Cut to Sell at Panmure Gordon
* GEA Group Cut to Underperform at RBC; PT 28 euros
* ICADE Cut to Sell at Goldman; PT 32.50 euros
* Maasoeval Cut to Hold at Fearnley; PT 32 kroner
* OCI Cut to Hold at Berenberg; PT 47 euros
* Restaurant Group Cut to Hold at Berenberg; PT 35 pence
* Schibsted Cut to Neutral at Goldman; PT 185.40 kroner
* Smiths Cut to Underperform at RBC; PT 1,600 pence
* Tullow Cut to Hold at Jefferies; PT 48 pence

>>> Initiation
* Argenx ADRs Rated New Market Perform at Oppenheimer
* DEME Group New Buy at Jefferies on Growth From Energy Transition
* MYNA US Rated New Outperform at Credit Suisse; PT $10
* Porsche AG Rated New Buy at Berenberg; PT 96.80 euros

>>> Call
* Citi’s Buckland Says Overweight Financials, Tech, Healthcare
* GEA, Smiths Cut, Morgan Advanced Raised by RBC in Industrials
* Porsche New Buy at Berenberg on Brand Power, Electrification
* RBC Cuts S&P 500 Target, Earnings Citing Weak GDP Through 2023
* Restaurant Group Shares Not Cheap, Cut to Hold at Berenberg