>>> Europe : Brokers Upgrades & Downgrades - 16th of May 2022

>>> Up
* Barclays PT Raised to 316 pence from 269 pence at Jefferies
* Benchmark Holdings Raised to Buy at HSBC; PT 60 pence
* Carl Zeiss Meditec Raised to Buy at HSBC; PT 149 euros
* GFT Raised to Buy at Berenberg; PT 48 euros
* Hyatt Raised to Hold at Berenberg; PT $85
* Inter Parfums Raised at Citi on Valuation, Favorable Tailwinds
* Phoenix Group Raised to Buy at Goldman; PT 857 pence

>>> Down
* Atlas Copco Cut to Reduce at AlphaValue/Baader
* Aviva Cut to Neutral at Goldman; PT 500 pence
* Glenveagh Cut to Reduce at Numis; PT 80 euro cents
* Michelin Cut to Neutral at JPMorgan; PT 140 euros

>>> Initiation
* Prudential Rated New Buy at Orient Finance

>>> Call
* GFT Upgraded to Buy at Berenberg as Better Outlook Surprises
* Hyatt Loses Only Sell as Berenberg Upgrades on Improving Outlook
* Kainos Down to Hold at Berenberg on Risk to Margins From Costs