>>> Europe : Brokers Upgrades & Downgrades - 21st of July 2022 V2(+)

>>> Up
* Ahold Delhaize Raised to Buy at HSBC; PT 29 euros
* Axfood Raised to Hold at SEB Equities
* Catena Raised to Overweight at Barclays; PT 490 kronor
* DWS Raised to Outperform at KBW; PT 41 euros (+)
* Stendorren Fastigheter Raised to Buy at Handelsbanken
* Telia Raised to Accumulate at Inderes; PT 41 kronor

>>> Down
* Alma Media Cut to Hold at SEB Equities; PT 11 euros
* Castellum Cut to Underweight at Barclays; PT 135 kronor
* Entra Cut to Underweight at Barclays; PT 115 kroner
* GSK ADRs Cut to Hold at Spin-Off Research; PT $45
* Harvia Cut to Accumulate at Inderes; PT 27 euros
* HelloFresh Cut to Hold at Kepler Cheuvreux; PT 33 euros
* Jupiter Cut to Underperform at KBW; PT 121 pence
* Midwich Cut to Hold at HSBC; PT 650 pence
* Mondi Cut to Equal-Weight at ABSA Securities; PT 1,662.29 pence

>>> Initiation
* Euronav Rated New Hold at Jefferies; PT $14
* FLEX LNG Rated New Hold at Jefferies; PT $26
* Golden Ocean Rated New Buy at Jefferies; PT $14
* GSK Resumed Neutral at Citi; PT 1,975 pence
* Haleon Rated New Buy at Citi; PT 360 pence
* Swatch Rated New Hold at Jefferies; PT 260 Swiss francs

>>> Call
* ASM International Update Shows ‘Blowout’ Orders: Jefferies
* Dassault Aviation 1H is a ‘Quality’ Beat, Morgan Stanley Says
* GSK Neutral at Citi as Vaccines Strong, Oncology ‘Underwhelming’
* Jefferies Initiates on Marine Shipping, Scorpio Among Top Picks
* Publicis Sees No Negative Impact From Inflation, Raises Guidance
* S4 Capital Guidance Implies 25% Cut to Consensus, Jefferies Says
* Swatch Rated New Hold at Jefferies, Cautious Over Weaker Growth