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

>>> Up
* Alpha Services Raised to Buy at Citi; PT 1.60 euros
* CVC INCOME & GROWTH LIMI Raised to Positive at Stifel
* Danske Bank Raised to Outperform at KBW; PT 205 kroner
* Novozymes Raised to Neutral at Credit Suisse
* Orsted Raised to Buy at Jefferies; PT 800 kroner
* Palfinger Raised to Buy at Hauck & Aufhaeuser; PT 36 euros
* Sampo Raised to Buy at HSBC; PT 53 euros
* Storskogen Raised to Neutral at JPMorgan; PT 11 kronor

>>> Down
* Demant Cut to Hold at HSBC; PT 215 kroner
* Fortnox Cut to Hold at SEB Equities; PT 60 kronor
* Handelsbanken Cut to Underperform at KBW; PT 120 kronor
* Lemonsoft Cut to Reduce at Inderes; PT 8.80 euros
* Raiffeisen Cut to Neutral at Exane
* SEB Cut to Underperform at KBW; PT 145 kronor
* Spectris Cut to Hold at Berenberg; PT 3,470 pence
* Telefonica Cut to Hold at Deutsche Bank; PT 5 euros

>>> Initiation
* AIB Group Rated New Outperform at Credit Suisse; PT 4.80 euros
* Bank of Ireland Rated New Outperform at Credit Suisse
* Medica Rated New Buy at Panmure Gordon; PT 187 pence

>>> Call
* Citi’s Buckland Expects Contrarian Stock Trades to Fizzle Out
* Credit Suisse Bullish on Irish Banks on ‘Unique’ Opportunity
* Gas Crisis Underpins Vestas, Nordex, SMA Solar and Peers' Growth
* Orsted Raised to Buy at Jefferies as Risk/Reward Starts to Shift
* Spectris Cut to Hold, Oxford Instruments Preferred at Berenberg