>>> Europe : Brokers Upgrades & Downgrades - 18th of July 2022

>>> Up
* Addnode Group AB Raised to Buy at Handelsbanken
* Balder Raised to Buy at SEB Equities; PT 80 kronor
* CD Projekt Raised to Hold at HSBC; PT 97 zloty
* Heba Fastighets Raised to Hold at Handelsbanken
* Orkla Raised to Neutral at SpareBank; PT 82 kroner
* Pandox Raised to Buy at Handelsbanken
* Richter Raised to Buy at HSBC; PT 9,200 forint

>>> Down
* Admiral Cut to Underperform at Jefferies; PT 1,525 pence
* Bekaert Cut to Neutral at Oddo BHF; PT 44.50 euros
* Direct Line Cut to Hold at Jefferies; PT 215 pence
* Erste Cut to Equal-Weight at Morgan Stanley; PT 34 euros
* Home24 Cut to Hold at Berenberg; PT 3.10 euros
* Sats Cut to Neutral at SpareBank; PT 16 kroner
* Social Chain Cut to Hold at Berenberg; PT 5.60 euros
* TKH GDRs Cut to Neutral at Oddo BHF; PT 42 euros

>>> Initiation
* Jet2 Reinstated Buy at Panmure Gordon; PT 1,470 pence
* Nvidia Rated New Buy at TF Securities

>>> Call
* Admiral, Direct Line Cut at Jefferies on Rising Claims Inflation
* Erste Cut at Morgan Stanley as Pressure Builds on Earnings
* Nordea Stock Set for Neutral Open, Handelsbanken Says