>>> Europe : Brokers Upgrades & Downgrades - 20th of September 2023 V2(+)

>>> Up
* Advanced Medical Raised to Buy at Liberum; PT 230 pence (+)
* Amplifon Raised to Buy at HSBC; PT 35 euros
* B&M European Raised to Outperform at BNPP Exane; PT 720 pence (+)
* Clariant Raised to Buy at Jefferies; PT 17 Swiss francs
* Geberit Raised to Neutral at Oddo BHF
* Hugo Boss Raised to Buy at Jefferies; PT 80 euros
* PGS Raised to Buy at SEB Equities; PT 12.60 kroner
* Telia Raised to Equal-Weight at Morgan Stanley; PT 25 kronor

>>> Down
* AB Foods Cut to Neutral at BNPP Exane; PT 2,325 pence (+)
* BAE Cut to Hold at SocGen; PT 1,121 pence
* Experian Cut to Neutral at BNPP Exane; PT 2,920 pence (+)
* Kering Cut to Hold at Jefferies; PT 500 euros
* Leonardo Cut to Hold at SocGen; PT 15.60 euros
* LVMH Cut to Hold at Jefferies; PT 780 euros
* Moncler Cut to Hold at Deutsche Bank; PT 64 euros
* Moncler Cut to Hold at Jefferies; PT 60 euros
* Richemont Deutsche Bank cut PT 165 (170) CHF - buy
* Swatch Cut to Hold at Jefferies; PT 260 Swiss francs
* Thales Cut to Hold at SocGen; PT 144 euros
* WPP Cut to Neutral at BNPP Exane; PT 840 pence

>>> Initiation
* Bytes Technology Rated New Buy at HSBC; PT 625 pence
* Computacenter Rated New Buy at HSBC; PT 3,015 pence
* Daimler Truck Rated New Buy at M.M. Warburg; PT 49 euros (+)
* Delivery Hero Rated New Buy at Hauck & Aufhaeuser; PT 65 euros (+)
* IBM Reinstated Outperform at RBC; PT $188
* Iqgeo Group Rated New Buy at Investec; PT 390 pence
* Instacart Rated Hold at Needham on Slowing Growth Potential
* Ithaca Energy Rated New Buy at Peel Hunt; PT 210 pence
* Medcap Rated New Buy at SEB Equities; PT 327 kronor
* Softcat Rated New Hold at HSBC; PT 1,580 pence

>>> Call
* BofA Quant Strategists Lift S&P 500 End-2023 Target to 4,600 (+)
* Jefferies Upgrades Clariant, Welcomes Sunliquid Sense of Urgency