>>> Europe : Brokers Upgrades & Downgrades - 15th of November 2023

>>> Up
* CaixaBank Raised to Outperform at KBW; PT 5.93 euros
* Compass Group Raised to Buy at Deutsche Bank; PT 2,400 pence
* Elia Group Raised to Buy at Citi; PT 112 euros
* Oxford Instruments Raised to Buy at HSBC; PT 2,440 pence
* Sobi PT Raised to 325 kronor from 310 kronor at RBC
* UniCredit Raised to Buy at AlphaValue/Baader

>>> Down
* Ahold Delhaize Cut to Equal-Weight at Morgan Stanley
* Banco BPM Cut to Market Perform at KBW; PT 7.21 euros
* BayWa Cut to Hold at DZ Bank; PT 37 euros
* Beauty Health Cut to Hold at Jefferies; PT $1.50
* Entain Cut to Hold at CBRE Research
* Horizonte Minerals Cut to Hold at Cantor; PT 45 pence
* Reply Cut to Hold at SocGen; PT 112 euros
* Sabaf Cut to Neutral at Mediobanca SpA; PT 18.70 euros

>>> Initiation
* American Express Rated New Overweight at Barclays; PT $184
* ASR Nederland Reinstated Buy at Goldman; PT 49.50 euros
* Washtec Rated New Buy at Berenberg; PT 43 euros

>>> Call
* Ahold Delhaize Lacks Catalysts, Morgan Stanley Downgrades
* Elia Raised to Buy at Citi Following Belgium Tariff Approval
* Sobi PT Boosted to Street-High at RBC After Strong Third Quarter
* Washtec New Buy at Berenberg on Capital Return, Cash Generation