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

>>> Up
* Addlife Raised to Buy at Handelsbanken; PT 375 kronor
* Ascential Raised to Buy at Peel Hunt; PT 470 pence
* Aixtron Raised to Hold at Stifel; PT 19 euros
* Berkeley Raised to Buy at Deutsche Bank; PT 5,429 pence
* Castellum Raised to Buy at SEB Equities; PT 260 kronor
* Crest Nicholson Raised to Buy at Deutsche Bank; PT 438 pence
* EN+ Group GDRs Raised to Outperform at Credit Suisse; PT $22
* Mosaic Raised to Outperform at BMO; PT $50
* Kid ASA Raised to Buy at Arctic Securities; PT 120 kroner
* K+S Raised to Outperform at BMO; PT 21 euros
* LondonMetric Raised to Outperform at RBC; PT 325 pence
* Philips Raised to Buy at HSBC; PT 38 euros
* Santander Brasil ADRs Raised to Neutral at Goldman; PT $6
* Sobi Raised to Buy at SEB Equities; PT 240 kronor
* Truecaller Raised to Buy at Carnegie; PT 120 kronor

>>> Down
* Countryside Cut to Hold at Deutsche Bank; PT 342 pence
* Equinor Cut to Hold at Berenberg; PT 245 kroner
* Fiserv Cut to Sector Weight at KeyBanc
* Ford Cut to Sector Perform at RBC; PT $26
* Holcim Cut to Neutral at Davy
* Jyske Cut to Sell at SEB Equities; PT 404 kroner
* MorphoSys Cut to Equal-Weight at Morgan Stanley; PT 50 euros
* MorphoSys ADRs Cut to Equal-Weight at Morgan Stanley; PT $14
* Novartis Cut to Equal-Weight at Morgan Stanley
* PagSeguro Cut to Sector Weight at KeyBanc
* Persimmon Cut to Hold at Deutsche Bank; PT 2,897 pence
* Rightmove Cut to Underweight at Morgan Stanley; PT 692 pence
* SCA Cut to Hold at Jefferies; PT 164 kronor
* Software AG Cut to Neutral at Goldman; PT 39 euros
* Spar Nord Cut to Hold at SEB Equities; PT 106 kroner
* Topdanmark Cut to Hold at Carnegie; PT 385 kroner
* Warehouse Cut to Sector Perform at RBC; PT 180 pence

>>> Initiation
* Appreciate Group PLC Rated New Buy at Panmure Gordon
* Interroll Rated New Neutral at Exane; PT 3,900 Swiss francs
* Jungheinrich Reinstated Outperform at Exane; PT 54 euros
* Kion Reinstated Outperform at Exane; PT 126 euros
* Klarabo Sverige Rated New Hold at Handelsbanken; PT 48 kronor
* Reach Rated New Buy at Investec; PT 345 pence
* Vitesco Rated New Underweight at Morgan Stanley; PT 40 euros

>>> Call