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

>>> Up
* Amadeus Raised to Outperform at BNPP Exane; PT 77 euros
* Apple PT Raised to $220 from $190 at Morgan Stanley
* Bodycote Raised to Neutral at JPMorgan; PT 640 pence
* Chewy Raised to Buy at Goldman; PT $50
* Elisa Raised to Hold at DNB Markets; PT 50 euros
* Euronext Raised to Neutral at BNPP Exane; PT 64 euros
* HMS Networks Raised to Hold at ABG; PT 400 kronor
* HMS Networks Raised to Buy at DNB Markets; PT 500 kronor
* Investors House Raised to Buy at Inderes; PT 5.90 euros
* Johnson Matthey Raised to Buy at Deutsche Bank; PT 2,500 pence
* Lime Technologies Raised to Buy at DNB Markets; PT 300 kronor
* MorphoSys Raised to Hold at Deutsche Bank; PT 25 euros
* Ovaro Kiinteistosijoitus Raised to Accumulate at Inderes
* Paccar Raised to Buy at Jefferies; PT $115
* Spirax Raised to Overweight at JPMorgan; PT 11,900 pence
* Victrex Raised to Buy at Berenberg; PT 2,090 pence
* Yelp Raised to Buy at Goldman; PT $47

>>> Down
* Aker Solutions Cut to Hold at DNB Markets; PT 45 kroner
* Alcoa Cut to Neutral at JPMorgan on Weak Aluminum Fundamentals
* Ericsson Cut to Equal-Weight at Barclays; PT 65 kronor
* Kenmare Cut to Hold at Berenberg
* Kesko Cut to Hold at ABG; PT 19 euros
* Lundin Mining Cut to Hold at Paradigm Capital; PT C$12.50
* MSCI Cut to Underperform at BNPP Exane; PT $450
* Nokia Cut to Accumulate at Inderes; PT 4.10 euros
* PepsiCo Cut to Equal-Weight at Morgan Stanley
* Rotork Cut to Neutral at JPMorgan; PT 330 pence
* Spectris Cut to Underweight at JPMorgan; PT 3,100 pence
* WithSecure Cut to Accumulate at Inderes; PT 1.40 euros

>>> Initiation
* Alphabet Rated New Outperform at CICC; PT $151
* Cembre Rated New Buy at Berenberg, On Track For a Record Year
* Molson Coors Rated New Hold at Baptista Research; PT $74.10
* NatWest ADRs Rated New Hold at Baptista Research; PT $7.20
* UBS Rated New Buy at Baptista Research

>>> Call
* 888 Shares Plunge; Jefferies Notes Potential Existential Threat
* PepsiCo Downgraded at Morgan Stanley With Catalysts Played Out
* Victrex Raised to Buy at Berenberg as Earnings Approach Trough