>>> Europe : Brokers Upgrades & Downgrades - 20th of December 2021

>>> Up
* AT&T Raised to Overweight at Barclays
* Cerner Raised to Equal-Weight at Morgan Stanley; PT $85
* Lucas Bols Raised to Outperform at Oddo BHF; PT 14.50 euros

>>> Down
* Elkem Cut to Sell at SpareBank; PT 25 kroner
* Novo Nordisk Cut to Hold at Deutsche Bank; PT 775 kroner
* Novo Nordisk Cut to Neutral at JPMorgan; PT 700 kroner
* Novo Nordisk Cut to Neutral at Citi
* SEB Cut to Hold at DNB Markets; PT 133 kronor

>>> Initiation
* Diversified Energy Rated New Buy at Jefferies; PT 160 pence
* Ericsson ADRs Rated New Equal-Weight at Morgan Stanley; PT $13
* MotorK Rated New Buy at Berenberg; PT 9 euros
* Nokia ADRs Rated New Overweight at Morgan Stanley; PT $7.50
* SIF Italia Rated New Buy at Banca Finnat Euramerica; PT 4 euros
* STMicroelectronics ADRs Rated New Overweight at Morgan Stanley

>>> Call
* BAT Preferred Tobacco Stock, Set to Outperform on Buyback: Citi
* Diversified Energy Gets Buy at Jefferies on Sector-Leading Yield