>>> Europe : Brokers Upgrades & Downgrades - 20th of January 2022 V2 (+)

(FULL GS Internet & Media 2022 Outlook Resume Coverage attached)
>>> Up
* Atrium Ljungberg Raised to Buy at Handelsbanken; PT 220 kronor
* Balder Raised to Hold at Handelsbanken; PT 570 kronor
* British Land Raised to Buy at Peel Hunt; PT 650 pence
* Bucher Raised to Buy at Kepler Cheuvreux; PT 530 Swiss francs
* Burberry Raised to Buy at Kepler Cheuvreux; PT 2,280 pence
* Castellum Raised to Buy at Handelsbanken; PT 260 kronor
* Catena Raised to Buy at Handelsbanken; PT 600 kronor
* Coloplast Raised to Hold at Carnegie; PT 1,015 kroner
* Commerzbank Raised to Outperform at Exane; PT 9 euros
* Embraer ADRs Raised to Overweight at Morgan Stanley; PT $23
* Entra Raised to Buy at Handelsbanken; PT 230 kroner
* Eramet Raised to Outperform at Oddo BHF; PT 120 euros (+)
* Evolva Raised to Buy at Berenberg; PT 0.23 Swiss francs
* FDJ Raised to Outperform at Oddo BHF; PT 38 euros
* Hemnet Raised to Buy at Carnegie; PT 184 kronor
* HIKMA PHARMACEUTICALS RAISED TO BUY VS HOLD AT PEEL HUNT
* Intertek Raised to Outperform at Credit Suisse; PT 5,850 pence (+)
* K2A Raised to Hold at Kepler Cheuvreux; PT 55 kronor (+)
* Kuehne + Nagel Raised to Outperform at Exane (+)
* MOL Raised to Buy at Goldman; PT 3,700 forint
* Platzer Raised to Buy at Handelsbanken; PT 150 kronor
* Rentokil Raised to Buy at Citi Following Terminix Acquisition
* Ryanair Raised to Overweight at JPMorgan; PT 21 euros (+)
* Sagax Raised to Hold at Handelsbanken; PT 280 kronor
* Sagax Raised to Buy at Kepler Cheuvreux; PT 290 kronor (+)
* Siemens Healthineers Raised to Buy at Jefferies; PT 75 euros
* Simcorp Raised to Buy at SEB Equities; PT 775 kroner
* Strix Raised to Buy at Canaccord; PT 375 pence (+)
* Thule Raised to Buy at SEB Equities; PT 550 kronor
* UPS Raised to Neutral at Exane; PT $191 (+)
* Vinci Raised to Buy at SocGen; PT 114.60 euros

>>> Down
* Antofagasta Cut to Sell at Liberum (+)
* Bureau Veritas Cut to Neutral at Credit Suisse; PT 28.50 euros (+)
* Compass Cut to Hold at Deutsche Bank
* Countryside Cut to Hold at Peel Hunt; PT 330 pence
* EDF Cut to Equal-Weight at Morgan Stanley; PT 10 euros
* Erste Cut to Hold at Raiffeisen Bank; PT 49 euros
* Ford Cut to Hold at Jefferies; PT $25
* Hellenic Petroleum Cut to Neutral at Goldman; PT 7.50 euros
* IAG Cut to Neutral at JPMorgan; PT 2.25 euros (+)
* InPost Cut to Underperform at Exane; PT 5.90 euros
* Paradox Interactive Cut to Hold at Jefferies; PT 175 kronor
* Philips Cut to Hold at Jefferies; PT 32 euros
* SEB Cut to Neutral at Exane; PT 136 kronor
* SGS Cut to Underperform at Credit Suisse; PT 2,700 Swiss francs (+)
* TCM Group Cut to Hold at SEB Equities; PT 160 kroner
* Walmart Cut to Sector Weight at KeyBanc

>>> Initiation
* Adevinta Reinstated Neutral at Goldman; PT 133.30 kroner
* Anglo American Cut to Hold at Liberum (+)
* AUTO1 Reinstated Buy at Goldman; PT 27 euros
* Auto Trader Reinstated Neutral at Goldman; PT 799 pence
* Believe Rated New Neutral at Goldman; PT 19 euros
* Bouygues Reinstated Neutral at Oddo BHF; PT 34 euros
* Brave Bison Reinstated Buy at Cenkos Securities (+)
* Directa SIM Rated New Neutral at EnVent S.p.A.; PT 5.61 euros
* Elekta Reinstated Underperform at Jefferies; PT 90 kronor
* Evotec SE Rated New Buy at Berenberg; PT 51 euros
* Informa Reinstated Sell at Goldman; PT 519 pence
* ITV Reinstated Sell at Goldman; PT 125 pence
* JCDecaux Reinstated Sell at Goldman; PT 21.20 euros
* Kahoot Rated New Buy at Goldman; PT 54.70 kroner
* Learning Tech Reinstated Buy at Goldman; PT 220 pence
* Medica Rated New Hold at Intesa Sanpaolo; PT 39.40 euros (+)
* MFE-MediaForEurope Rated New Sell at Goldman; PT 1.17 euros
* Pearson Reinstated Buy at Goldman; PT 896 pence
* ProSieben Reinstated Buy at Goldman; PT 18.10 euros
* Prosus Reinstated Buy at Goldman; PT 127.10 euros
* Publicis Reinstated Buy at Goldman; PT 73.90 euros
* RELX Reinstated Buy at Goldman; PT 2,866 pence
* Rightmove Reinstated Neutral at Goldman; PT 826 pence
* Rio Tinto Cut to Sell at Liberum (+)
* RTL Reinstated Buy at Goldman; PT 62.80 euros
* Schibsted Reinstated Neutral at Goldman; PT 358 kroner
* Scout24 SE Reinstated Neutral at Goldman; PT 66.70 euros
* Stroeer Reinstated Neutral at Goldman; PT 76.80 euros
* Supervielle ADRs Cut to Underweight at JPMorgan (+)
* UMG Rated New Buy at Goldman; PT 29.90 euros
* Vivendi Reinstated Buy at Goldman; PT 14.70 euros
* Wolters Kluwer Reinstated Neutral at Goldman; PT 100 euros
* WPP Reinstated Buy at Goldman; PT 1,450 pence

>>> Call
* Burberry Upgraded at Kepler as ‘Value Play’ Within Luxury Sector (+)
* Citi Strategists See More Upside for European Banks After Rally (+)
* Commerzbank Upgraded at Exane, Deutsche Bank on Rates Impact (+)
* Deliveroo’s Trading Update is a ‘Mixed Bag,’ Jefferies Says (+)
* EDF Cut at Morgan Stanley on More Nuclear Risks, Low Visibility
* Energy to Drive S&P 500’s 4Q Earnings Growth, MS Strategists Say (+)
* Hikma Upgraded to Buy at Peel Hunt on Strategy, Stock Weakness
* LVMH Deserves Premium to Past Multiples, Jefferies Says; Ups PT (+)
* Morgan Stanley Strategists See Scope for Europe Profit Upgrades (+)
* Unilever Unlikely to Win Support For GSK Unit Deal: Bernstein
* Zur Rose 4Q in Line, All Eyes on German e-Rx Rollout: Jefferies (+)