>>> Europe : Brokers Upgrades & Downgrades - 15th of January 2024 V3(++)

>>> Up
* Adyen Raised to Buy at HSBC; PT 1,400 euros
* Azimut Raised to Neutral at Mediobanca SpA; PT 27 euros (++)
* Banca Mediolanum Raised to Outperform at Mediobanca SpA (++)
* Brembo Raised to Outperform at Mediobanca SpA; PT 13.70 euros (++)
* Capgemini Raised to Buy at HSBC; PT 225 euros
* CMC Markets Raised to Hold at Shore Capital; PT 130 pence (++)
* CompuGroup Raised to Equal-Weight at Morgan Stanley; PT 39 euros
* CompuGroup Raised to Buy at Berenberg
* Continental Raised to Overweight at JPMorgan; PT 100 euros
* Danone Raised to Buy at UBS (++)
* Deliveroo Raised to Neutral at BNPP Exane (+)
* Elia Group Raised to Buy at Deutsche Bank; PT 130 euros (+)
* Eni Raised to Outperform at Mediobanca SpA; PT 20 euros (++)
* Eurobank Raised to Overweight at Morgan Stanley; PT 2.33 euros
* Fevertree Drinks Raised to Buy at Liberum; PT 1,300 pence (+)
* FinecoBank Raised to Outperform at Mediobanca SpA; PT 17 euros (++)
* Hammerson Raised to Add at Peel Hunt; PT 32 pence
* Holmen Raised to Buy at ABG; PT 450 kronor
* Interpump Raised to Outperform at Mediobanca SpA; PT 56 euros (++)
* ITM Power Raised to Buy at Panmure Gordon; PT 90 pence
* Iveco Raised to Buy at Deutsche Bank; PT 13 euros (+)
* Kjell Group Raised to Buy at Nordea; PT 40 kronor
* Kone Raised to Hold at Nordea
* Kruk Raised to Buy at Biuro Maklerskie mBanku; PT 532.36 zloty
* National Grid Raised to Buy at Deutsche Bank; PT 1,150 pence (+)
* Orsted Raised to Buy at Deutsche Bank; PT 450 kroner (+)
* Piaggio Raised to Outperform at Mediobanca SpA; PT 3.70 euros (++)
* Redeia Raised to Hold at Deutsche Bank; PT 14.50 euros (+)
* TietoEVRY Raised to Overweight at Morgan Stanley; PT 27.50 euros

>>> Down
* ABB Cut to Sector Perform at RBC; PT 38 Swiss francs
* AIB Group Cut to Underperform at Mediobanca SpA; PT 4.20 euros (++)
* Alfa Laval Cut to Sector Perform at RBC; PT 420 kronor
* Alleima Cut to Hold at SEB Equities; PT 80 kronor
* Alpha Services Cut to Neutral at Mediobanca SpA; PT 1.70 euros (++)
* Atos Cut to Reduce at HSBC; PT 4 euros
* B3 Consulting Cut to Hold at Pareto Securities; PT 118 kronor (+)
* Banco BPM Cut to Underperform at Mediobanca SpA; PT 5.25 euros (++)
* BPER Banca Cut to Underperform at Mediobanca SpA; PT 3.40 euros (++)
* Bankinter Cut to Underperform at Mediobanca SpA; PT 6.30 euros (++)
* BCP Cut to Underperform at Mediobanca SpA; PT 30 euro cents (++)
* Bpost Cut to Sell at ING (++)
* Burberry Cut to Neutral at Goldman; PT 1,663 pence
* Burberry Cut to Underperform at Mediobanca SpA; PT 1,300 pence (++)
* Dassault Aviation Cut to Hold at Deutsche Bank; PT 199 euros
* Enel Cut to Hold at Deutsche Bank; PT 7 euros (+)
* Ferrari Cut to Neutral at Mediobanca SpA; PT $354.84 (++)
* HSBC Cut to Underperform at BNPP Exane (+)
* Just Eat Takeaway Cut to Underperform at BNPP Exane (+)
* Know IT Cut to Hold at Pareto Securities; PT 163 kronor (+)
* Lloyds Cut to Neutral at BofA (++)
* L'Oreal Cut to Neutral at UBS (++)
* Meyer Burger Cut to Sell at Research Partners (++)
* Moncler Cut to Neutral at Mediobanca SpA; PT 65 euros (++)
* Munters Cut to Hold at ABG; PT 170 kronor
* National Bank of Greece Cut to Underperform at Mediobanca SpA (++)
* Nexus Cut to Hold From Buy by Berenberg
* Sage Cut to Hold at Peel Hunt; PT 1,187 pence
* Saipem Cut to Neutral at Mediobanca SpA; PT 1.70 euros (++)
* Salvatore Ferragamo Cut to Underperform at Mediobanca SpA (++)
* Sandvik Cut to Hold at ABG; PT 225 kronor
* Saras Cut to Neutral at Mediobanca SpA; PT 1.80 euros (++)
* Schneider Electric Cut to Underperform at RBC; PT 165 euros
* Scout24 SE Cut to Neutral at BNPP Exane (+)
* Sinch Cut to Underweight at Morgan Stanley; PT 26 kronor
* Storskogen Cut to Hold at Danske Bank Markets; PT 9 kronor (++)
* Trelleborg Cut to Hold at ABG; PT 325 kronor
* Troax Cut to Hold at Danske Bank Markets; PT 250 kronor (++)
* Umicore Cut to Accumulate at KBC Securities; PT 29 euros (+)
* VAT Cut to Underperform at RBC; PT 280 Swiss francs
* Verbund Cut to Sell at Deutsche Bank; PT 74 euros (+)
* Wacker Chemie Cut to Hold at HSBC; PT 105 euros
* Wiit Cut to Neutral at Mediobanca SpA; PT 20.50 euros (++)
* Worldline Cut to Hold at HSBC; PT 16 euros

>>> Initiation
* Ericsson Rated New Underperform at BNPP Exane; PT 60 kronor
* Nokia Rated New Neutral at BNPP Exane; PT 3.40 euros
* Nokia ADRs Rated New Neutral at BNPP Exane; PT $3.70
* Telefonica Reinstated Neutral at JB Capital Markets; PT 4 euros

>>> Call
* BofA Suggests Stock Picking Utilities; Cuts Fortum, Lifts Endesa
* Burberry Cut to Neutral at Goldman as Margin Weakness Weighs (+)
* Continental Gets JPMorgan Upgrade on Margin, Restructuring Plans (+)
* Danone Gains as UBS Double Upgrades to Buy on Favorable Set Up (++)
* Fevertree Gains as Liberum Lifts to Buy on Margin Recovery (++)
* Goldman’s Kostin Says Buy Small Caps, Consumer Staples Stocks
* New Bull Case for Stocks in Soon-to-Fall Cash Yields, BofA Says
* TietoEVRY Gains as Morgan Stanley Upgrades on Share Valuation (++)