>>> Europe : Brokers Upgrades & Downgrades - 20th of April 2023

>>> Up
* Direct Line Raised at Jefferies on Improving Capital Position
* Efecte Raised to Accumulate at Inderes; PT 12 euros
* IntegraFin Raised to Buy at Investec; PT 340 pence
* Kesko Raised to Accumulate at Inderes; PT 21.50 euros
* SAP Raised to Neutral at Oddo BHF

>>> Down
* Norden Cut to Hold at SEB Equities; PT 490 kroner
* OVH PT Cut to 9.70 euros from 10.40 euros at Morgan Stanley
* Scanfil Cut to Reduce at Inderes; PT 9 euros

>>> Initiation
* Barry Callebaut Reinstated Buy at Deutsche Bank
* Euronext Resumed Equal-Weight at Morgan Stanley; PT 93.50 euros
* Johnson Service Rated New Buy at Panmure Gordon; PT 150 pence
* Lindt & Spruengli Rated New Hold at Deutsche Bank
* Soltec Power Rated New Outperform at Oddo BHF; PT 7.35 euros

>>> Call
* Covivio Operationally Resilient, Disposal Progress Slow, MS Says
* European Airlines' Valuations on Track as Recovery Gains Wings
* Fluidra at Attractive Entry Point, Jefferies Initiates at Buy
* LSE Preferred at MS in Exchanges, Euronext Resumed Equal-Weight
* Soltec Power Positioned to Secure Growth, New Outperform at Oddo