>>> Europe : Brokers Upgrades & Downgrades - 1st of December 2023 V2(+)

>>> Up
* Adidas PT Raised to 216 euros from 186 euros at Bankhaus Metzler (+)
* Aegon Ltd Raised to Market Perform at KBW; PT 4.30 euros
* Axa Raised to Outperform at KBW; PT 33 euros
* Bakkavor Raised to Buy at Investec; PT 97 pence
* Chemours Raised to Outperform at RBC; PT $40
* Elastic Raised to Overweight at Wells Fargo; PT $115
* Foot Locker PT Raised to $24 from $19 at Piper Sandler
* Kloeckner Raised to Buy at Bankhaus Metzler; PT 8.70 euros (+)
* On The Beach Raised to Buy at Panmure Gordon; PT 170 pence
* PVH PT Raised to $100 from $81 at Morgan Stanley (+)
* Rational Raised to Buy at Hauck & Aufhaeuser; PT 675 euros (+)
* Richemont Raised to Outperform at Bernstein; PT 153 Swiss francs (+)
* Rio Tinto Raised to Buy at Liberum; PT 6,100 pence (+)
* Snowflake Raised to Buy at President Capital Management; PT $220
* Storebrand Raised to Market Perform at KBW; PT 85 kroner
* Telia Raised to Hold at Deutsche Bank; PT 22.50 kronor
* Victoria's Secret PT Raised to $25 from $16 at Morgan Stanley (+)

>>> Down
* AIB Group Cut to Neutral at Goldman; PT 5 euros
* Alibaba ADRs Cut to Equal-Weight at Morgan Stanley; PT $90
* Antofagasta Cut to Hold at Jefferies; PT 1,550 pence
* Ashtead Technology Cut to Hold at Canaccord; PT 615 pence (+)
* BioNTech ADRs Cut to Underweight at JPMorgan; PT $99
* Generali Cut to Market Perform at KBW; PT 20.50 euros
* ITV Cut to Hold at Deutsche Bank; PT 80 pence
* KBC Raised to Buy at Goldman
* KPN Cut to Equal-Weight at Morgan Stanley
* Legal & General Cut to Underperform at KBW; PT 210 pence
* Lemonade Cut to Market Perform at Oppenheimer
* LVMH Cut to Equal-Weight at Morgan Stanley; PT 790 euros
* Metro Cut to Underweight at JPMorgan; PT 4.95 euros
* Pearson Cut to Hold at Deutsche Bank; PT 1,050 pence
* Remitly Cut to Peerperform at Wolfe
* SocGen Cut to Sell at Goldman; PT 22.25 euros
* Tesco Cut to Underweight at JPMorgan; PT 230 pence
* Trainline Cut to Hold at Panmure Gordon; PT 315 pence

>>> Initiation
* ARM Holdings PLC ADRs Rated New Hold at CFRA
* Beerenberg Rated New Buy at Pareto Securities; PT 30 kroner (+)
* Boeing Reinstated Buy at Stifel; PT $265
* Borussia Dortmund Reinstated Outperform at Oddo BHF
* CaixaBank Reinstated Neutral at Goldman; PT 5.20 euros
* Credit Agricole Rated New Buy at Intesa Sanpaolo; PT 15.50 euros (+)
* Erste Reinstated Neutral at Goldman; PT 45.20 euros
* Glanbia Rated New Buy at Numis; PT 18.60 euros
* Lar Espana RE Socimi Rated New Outperform at Oddo BHF (+)
* Lem Rated New Buy at Stifel; PT 2,300 Swiss francs
* SocGen Rated New Hold at Intesa Sanpaolo; PT 25.30 euros (+)
* Spirit Aero Reinstated Hold at Stifel; PT $28

>>> Call
* Citi’s Manthey Sees 10% Upside for European Stocks Next Year (+)
* Leonteq Expected to Fall on Lower FY 2023 Profit Forecast: ZKB (+)
* LVMH Cut to Equal-Weight at Morgan Stanley as Demand Worsens (+)