>>> Europe : Brokers Upgrades & Downgrades - 15th of May 2023 V2(+)

>>> Up
* Albemarle Raised to Outperform at Baird; PT $288
* Carlsberg Raised to Buy at Citi; PT 1,275 kroner
* DuPont de Nemours Raised to Buy at Deutsche Bank; PT $80
* EFG International Raised to Buy at Citi; PT 9.80 Swiss francs
* Eli Lilly PT Raised to $507 from $478 at Morgan Stanley
* Flutter Raised to Buy at Citi; PT 19,000 pence
* Munters PT Raised to 125 kronor from 114 kronor at Berenberg
* National Bank of Greece Raised to Buy at Citi; PT 6 euros
* Royal Unibrew Raised to Neutral at Citi; PT 625 kroner
* Trainline Raised to Buy at Stifel; PT 355 pence (+)

>>> Down
* Altamir Cut to Neutral at Oddo BHF; PT 25 euros (+)
* Lotus Bakeries Cut to Hold at KBC Securities (+)

>>> Initiation
* Castellum Rated New Buy at Arctic Securities; PT 138 kronor
* Elixirr International Rated New Buy at Investec; PT 817 pence (+)
* Gimv Reinstated Hold at Kepler Cheuvreux; PT 51 euros
* Tecnicas Reunidas Re-Initiated Neutral at Oddo BHF; PT 10 euros (+)
* Watches of Switzerland Rated New Outperform at RBC

>>> Call
* Bayer Likely 2H Profit Warning May Boost Breakup Case: Berenberg (+)
* Citi Says Julius Baer Ranks Among Its Top European Banks Picks (+)
* More Oil Stocks to Cut Buybacks in 2H, Aramco Downgraded: MS
* JD Sports Get Positive Catalyst Watch at JPM; Adidas Overweight
* Citi Bullish on European Beer Stocks; Raises Carlsberg, Unibrew
* Flutter Upgraded at Citi on US Opportunity, Entain Also a Buy
* Siemens Energy’s 2Q to Be Taken Positively as Orders Beat: Citi (+)
* Watches of Switzerland a Growth Story, New Outperform at RBC