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

>>> Up
* ADP Raised to Equal-Weight at Barclays; PT 136 euros
* EDP Raised to Overweight at Barclays; PT 5.90 euros
* Endesa Raised to Overweight at Barclays; PT 22.10 euros
* Fraport Raised to Overweight at Barclays; PT 56 euros
* Jungheinrich Raised to Outperform at Oddo BHF; PT 35 euros
* SEB Raised to Buy at DNB Markets; PT 134 kronor

>>> Down
* Adyen Cut to Hold at HSBC; PT 1,500 euros
* Aena Cut to Underweight at Barclays; PT 115 euros
* Coloplast Cut to Hold at Jefferies; PT 880 kroner
* Ocado Cut to Reduce at HSBC; PT 575 pence
* Pandora Cut to Sell at Nordea; PT 300 kroner
* Zurich Airport Cut to Equal-Weight at Barclays

>>> Initiation


>>> Call
* Coloplast Cut to Hold as Jefferies Sees Inflation, China Risks
* Goldman Says Stay Defensive on Road Toward Peak Hawkishness