>>> Europe : Brokers Upgrades & Downgrades - 13th of January 2023

>>> Up
* Air France-KLM Raised to Neutral at Davy
* Rational Raised to Neutral at Exane
* Wizz Air Raised to Outperform at Davy

>>> Down
* Arjo Cut to Hold at SEB Equities; PT 45 kronor
* Atlas Copco Cut to Hold at Nordea
* Bouygues Cut to Underweight at Morgan Stanley; PT 30 euros
* EDP Cut to Hold at Deutsche Bank; PT 5.10 euros
* Keywords Studios Cut to Hold at HSBC; PT 2,750 pence
* NN Cut to Hold at HSBC; PT 46 euros
* Paragon Cut to Underperform at KBW; PT 540 pence
* Pennon Cut to Sell at Deutsche Bank; PT 870 pence
* Salmar Cut to Hold at SpareBank; PT 420 kroner
* Stabilus Cut to Hold at Stifel; PT 70 euros
* va-Q-tec Cut to Hold at Stifel; PT 26 euros

>>> Initiation
* Bank of Ireland Resumed Buy at Citi; PT 10.60 euros
* Eqtec Rated New Buy at Panmure Gordon; PT 1.40 pence
* Intl Petroleum Reinstated Buy at Stifel Canada; PT 163.76 kronor
* Pendragon Resumed Buy at Berenberg; PT 35 pence
* Swissquote Rated New Outperform at Credit Suisse
* Vontobel Rated New Underperform at Credit Suisse

>>> Call
* Citi Positive on Irish Lenders, Resumes Bank of Ireland With Buy
* Swissquote New Outperform at CS, Vontobel Started Underperform