>>> Europe : Brokers Upgrades & Downgrades - 22nd of June 2023 V3(++)

>>> Up
* AB InBev Raised to Buy at Deutsche Bank; PT 60 euros (+)
* Boliden Raised to Equal-Weight at Morgan Stanley; PT 300 kronor
* Enel Chile ADRs Raised to Buy at Banco BTG Pactual; PT $4.30
* ISS Raised to Buy at UBS (++)
* Nordex Raised to Outperform at BNPP Exane (+)
* SAP Raised to Hold at Jefferies; PT 115 euros
* Sartorius Raised to Buy at Berenberg; PT 390 euros
* Shell Raised to Equal-Weight at Morgan Stanley; PT 2,450 pence

>>> Down
* AO World Cut to Hold at Shore Capital (+)
* Bittium Cut to Accumulate at OP Corporate Bank; PT 4.90 euros (++)
* Crayon Cut to Sell at DNB Markets; PT 100 kroner (++)
* Eneti Cut to Neutral at Citi; PT $14
* Equinor Cut to Underweight at Morgan Stanley; PT 290 kroner
* Inditex Cut to Neutral at Alantra Equities; PT 37.25 euros (++)
* Lime Technologies Cut to Hold at DNB Markets; PT 300 kronor
* Maisons du Monde Cut to Sell at TP ICAP Midcap; PT 9.40 euros (++)
* McPhy Cut to Sell at Panmure Gordon; PT 7.50 euros
* Steico Cut to Hold at Pareto Securities; PT 40 euros
* Valmet Cut to Hold at Danske Bank Markets; PT 29 euros (++)
* WithSecure Cut to Sell at Danske Bank Markets; PT 1.30 euros (++)

>>> Initiation
* Atrys Health Rated New Outperform at Oddo BHF; PT 6.50 euros
* Bunge Rated New Buy at Roth MKM; PT $138
* Burford Capital Re-Initiated Buy at Berenberg; PT 1,350 pence
* Caterpillar Rated New Neutral at DA Davidson; PT $263
* DELIVEROO RATED NEW BUY AT GOLDMAN
* DELIVERY HERO RATED NEW BUY AT GOLDMAN
* Helios Underwriting Rated New Buy at Numis; PT 240 pence
* Idorsia Resumed Underweight at Morgan Stanley; PT 7 Swiss francs
* IMCD Rated New Buy at KBC Securities; PT 156 euros (+)
* InPost Rated New Buy at Biuro Maklerskie mBanku; PT 13 euros (++)
* *JUST EAT TAKEAWAY RATED NEW NEUTRAL AT GOLDMAN
* Ossur HF Resumed Buy at Nordea; PT 37.80 kroner
* THG PLC Reinstated Equal-Weight at Barclays; PT 87 pence

>>> Call
* Morgan Stanley Sees Positive Skew for Miners, Raises Boliden
* Energy Sector Reset Not Finished, MS Raises Shell, Cuts Equinor
* Idorsia Resumed Underweight at MS on Cautious Quviviq Outlook
* IMCD Rated New Buy at KBC on Expectation of Strong Upside (++)
* SAP Loses Only Sell as Jefferies Says Negatives Have Played Out
* Sartorius De-Stocking Now Priced In, Berenberg Upgrades to Buy