>>> Europe : Brokers Upgrades & Downgrades - 17th of February 2023

>>> Up
* Apetit Raised to Accumulate at Inderes; PT 12 euros
* Banco BPM Raised to Outperform at KBW; PT 5.81 euros
* BPER Banca Raised to Outperform at KBW; PT 3.85 euros
* Credito Emiliano Raised to Outperform at KBW; PT 10.69 euros
* Eezy Raised to Accumulate at Inderes; PT 3.70 euros
* Intesa Sanpaolo Raised to Outperform at KBW; PT 3.43 euros
* Kerry Group Raised to Neutral at Goldman; PT 93 euros
* Kuehne + Nagel Raised to Overweight at JPMorgan
* Standard Chartered PT Raised to 1,000 pence at Berenberg
* Taaleri Raised to Reduce at Inderes; PT 11 euros
* ZIM Integrated Shipping Raised to Overweight at JPMorgan

>>> Down
* Assura Cut to Hold at Numis; PT 58 pence
* Barrick Gold Cut to Reduce at Veritas Investment Research Co
* British Land Cut to Add at Numis; PT 530 pence
* Capital & Counties Cut to Add at Numis; PT 140 pence
* Catena Media Cut to Hold at ABG; PT 35 kronor
* Derwent London Cut to Add at Numis; PT 3,050 pence
* Deutsche Post Cut to Underweight at JPMorgan; PT 31.50 euros
* Direct Line Cut to Sector Perform at RBC; PT 190 pence
* Fortnox Cut to Hold at ABG; PT 65 kronor
* GEA Group Cut to Underweight at Barclays; PT 38 euros
* Grieg Seafood Cut to Hold at Arctic Securities; PT 90 kroner
* Hammerson Cut to Add at Numis; PT 34 pence
* Instalco AB Cut to Hold at ABG; PT 55 kronor
* Land Sec. Cut to Add at Numis; PT 800 pence
* Link Mobility Group Holding Cut to Hold at Handelsbanken
* LondonMetric Cut to Add at Numis; PT 230 pence
* Mediobanca Cut to Underperform at KBW; PT 11.15 euros
* Primary Health Cut to Hold at Numis; PT 120 pence
* QT Group Cut to Reduce at Inderes; PT 72 euros
* Randstad Cut to Equal-Weight at Barclays; PT 62.50 euros
* Recordati Cut to Underweight at Barclays; PT 35 euros
* Scandic Cut to Hold at Deutsche Bank; PT 37.40 kronor
* Sinch Cut to Hold at Handelsbanken
* Supermarket Income Cut to Sell at Liberum; PT 90 pence
* Titanium Cut to Accumulate at Inderes; PT 19 euros
* UmweltBank Cut to Add at AlphaValue/Baader

>>> Initiation
* Brown-Forman Rated New Sell at Citi; PT $62
* Cinis Fertilizer Rated New Buy at ABG; PT 60 kronor
* Clorox Rated New Neutral at Citi; PT $155
* Coca-Cola Rated New Buy at Citi; PT $68
* Colgate-Palmolive Rated New Buy at Citi; PT $84
* Constellation Brands Rated New Buy at Citi; PT $265
* Coty Rated New Neutral at Citi
* Estee Lauder Rated New Buy at Citi; PT $295
* Glanbia Reinstated Neutral at Credit Suisse; PT 11.80 euros
* Keurig Dr Pepper Rated New Neutral at Citi; PT $37
* Monster Beverage Rated New Buy at Citi; PT $121
* Newell Brands Rated New Neutral at Citi; PT $15
* PepsiCo Rated New Neutral at Citi; PT $180
* P&G Rated New Buy at Citi; PT $160
* Stolt-Nielsen Rated New Buy at Nordea

>>> Call
* Direct Line Faces Dividend Reset in 2023, RBC Cuts Rating