>>> Europe : Brokers Upgrades & Downgrades - 20th of October 2022

>>> Up
* ASML Raised to Buy at Deutsche Bank; PT 550 euros
* ASML ADRs Raised to Buy at Fubon; PT $500
* Atlas Copco Raised to Buy at Pareto Securities; PT 130 kronor
* Axactor ASA Raised to Buy at Arctic Securities; PT 7.20 kroner
* Bellway Raised to Buy at Deutsche Bank; PT 2,167 pence
* Brunello Cucinelli Raised to Buy at Jefferies; PT 62 euros
* Getinge Raised to Buy at Nordea; PT 260 kronor
* Kinnevik Raised to Hold at Nordea
* Oracle Raised to Neutral at Piper Sandler; PT $70
* Royal Unibrew Raised to Buy at Handelsbanken
* Saipem Raised to Buy at Jefferies; PT 1 euro

>>> Down
* Antofagasta Cut to Hold at Peel Hunt; PT 1,125 pence
* Atlantic Sapphire ASA Cut to Hold at DNB Markets; PT 6 kroner
* Bechtle Raised to Outperform at Oddo BHF; PT 51 euros
* Berkeley Cut to Hold at Deutsche Bank; PT 3,807 pence
* Eutelsat Cut to Reduce at AlphaValue/Baader
* Fluidra Cut to Neutral at JPMorgan; PT 13.85 euros
* MotorK Cut to Hold at Berenberg; PT 2.70 euros
* Royal Unibrew Cut to Sell at Citi; PT 400 kroner

>>> Initiation
* Bilfinger Rated New Outperform at Oddo BHF; PT 38 euros
* Jenoptik Rated New Outperform at Exane; PT 27 euros
* Lululemon Rated New Market Perform at CICC; PT $320.87
* Mapfre Rated New Hold at Berenberg

>>> Call
* Axfood Profit Beats Estimates; Cuts Valuation of Mathem
* Brunello Cucinelli Raised at Jefferies Following Guidance Uplift
* Goldman Says Emerging Equities Ripe for More Earnings Downgrades
* Mapfre New Hold at Berenberg, Exposed to Inflationary Trends
* Verallia Surprises Positively on Revenue Growth, Jefferies Says
* Zur Rose Cut at Jefferies on Likely More E-Prescription Delays