>>> Europe : Brokers Upgrades & Downgrades - 13rd of May 2024 V2(+)

>>> Up
* Akzo Nobel Raised to Buy from Neutral at UBS
* Care Property Invest NV Raised to Outperform at Oddo BHF
* Cisco Raised to Neutral at BNPP Exane; PT $50
* Cyfrowy Raised to Outperform at Santander Biuro Maklerskie (+)
* Goodtech Raised to Buy at Norne Securities; PT 16 kroner
* Johnson Service Raised to Buy at HSBC; PT 210 pence
* Nobia Raised to Buy at Nordea; PT 8.50 kronor
* Novavax PT Raised to $10 from $5 at TD Cowen
* Philips Raised to Outperform at Bernstein; PT 32.50 euros (+)
* Vanquis Raised to Speculative Buy at Canaccord; PT 66 pence (+)

>>> Down
* AFC Ajax Cut to Hold at Berenberg
* BAE Cut to Neutral at BofA (+)
* Beijer REF Cut to Hold at Berenberg
* CompuGroup Cut to Hold at Deutsche Bank (+)
* EDP Cut to Neutral at Goldman; PT 4.35 euros
* Equinor Cut to Underperform at Grupo Santander; PT 300 kroner
* Henkel Cut to Neutral at BofA (+)
* Mondi Cut to Neutral at Citi; PT 1,700 pence
* Nightingale Health Cut to Reduce at Inderes; PT 1.60 euros
* Prosafe Cut to Hold at ABG; PT 35 kroner
* Yara Cut to Underweight at JPMorgan; PT 270 kroner

>>> Initiation
* AO World Rated New Buy at Investec; PT 130 pence
* Auction Technology Group Rated New Buy at Deutsche Bank (+)
* Carr's Rated New Corporate at Finncap; PT 180 pence (+)
* Future PLC Rated New Buy at Deutsche Bank (+)
* Var Energi Rated New Outperform at RBC; PT 53 kroner

>>> Call
* Ajax Cut, Borussia Dortmund Now Berenberg’s Only Buy in Football (+)
* Beijer Ref Downgraded at Berenberg Following Share-Price Surge (+)
* Credit Agricole Positive Watch Opened at Citi on Savings Outlook
* Elopak Rated New Buy at Pareto Securities; PT 44 kroner (+)
* Goldman’s Kostin Sees Rates Pressure on Loss-Making Tech Stocks (+)
* Mondi Now Neutral at Citi, Recovery Prospects Appear Priced In
* Philips Raised to Outperform at Bernstein on Good Entry Point (+)
* Prosafe Has Limited Time to Build Backlog, Downgraded at ABG
* Var Energi New Outperform at RBC on Upcoming Production Boost