>>> Europe : Brokers Upgrades & Downgrades - 14th of December 2022

>>> Up
* Barclays Raised to Outperform at Exane; PT 215 pence
* Kone Raised to Buy at Citi; PT 56 euros
* Lemonsoft Raised to Accumulate at Inderes; PT 8.80 euros
* Mapfre Raised to Outperform at Grupo Santander; PT 2.80 euros
* Paccar Raised to Overweight at Morgan Stanley
* Playa Hotels Raised to Buy at Citi; PT $8
* Tenaris ADRs Raised to Outperform at Grupo Santander; PT $43

>>> Down
* Hilton Worldwide Cut to Neutral at Citi; PT $148
* Marriott Intl Cut to Neutral at Citi; PT $175
* Martin Marietta Cut to Equal-Weight at Morgan Stanley
* Redrow Cut to Underweight at JPMorgan; PT 390 pence
* SSAB Cut to Underweight at JPMorgan; PT 49 kronor
* Taylor Wimpey Cut to Neutral at JPMorgan; PT 110 pence
* Vinci Cut to Sell at Insight Investment Research; PT 154 euros

>>> Initiation
* Airbnb Rated New Outperform at Baptista Research; PT $118
* Danaher Reinstated Buy at Deutsche Bank; PT $310
* Thermo Fisher Reinstated Buy at Deutsche Bank; PT $620

>>> Call
* Ahold Delhaize EPS Estimate, PT Raised at Berenberg on Strong 2H
* Morgan Stanley Turns Positive on US Machinery Sector Into 2023
* Redrow, Taylor Wimpey Cut, JPMorgan Says Cautious on UK Builders
* Repsol, Shell Most Preferred Integrateds; Eni, Galp Cut at RBC