>>> Europe : Brokers Upgrades & Downgrades - 22nd of March 2022 V2(+)

>>> Up
* Altria Raised to Buy at Goldman; PT $57
* Bechtle Raised to Buy at Stifel; PT 62 euros (+)
* Bodycote Raised to Hold at Panmure Gordon; PT 671 pence (+)
* Enel Raised to Outperform at Exane; PT 6.90 euros
* IVS Group Raised to Buy at Equita; PT 7 euros (+)
* Moncler Raised to Neutral at Goldman; PT 62 euros
* NatWest Raised to Outperform at KBW; PT 250 pence (+)
* Ryanair Raised to Outperform at Bernstein; PT 16.80 euros
* Ryanair ADRs Raised to Outperform at Bernstein; PT $107
* TP ICAP Raised to Buy at Shore Capital
* Virgin Money UK Raised to Outperform at KBW; PT 200 pence (+)

>>> Down
* Diploma Cut to Underweight at JPMorgan; PT 2,500 pence
* Ebro Foods Cut to Reduce at AlphaValue/Baader
* Mayr-Melnhof Cut to Hold at Erste Group; PT 168.50 euros
* Palfinger Cut to Hold at Hauck & Aufhaeuser; PT 29.80 euros (+)
* Philip Morris Cut to Neutral at Goldman; PT $100
* Schoeller-Bleckmann Cut to Hold at Wiener Privatbank

>>> Initiation
* GFT Rated New Hold at Berenberg; PT 49 euros
* Mister Spex Rated New Buy at Quirin Privatbank AG; PT 17 euros
* Sesa Rated New Buy at Stifel; PT 222 euros
* Stillfront Rated New Sell at SEB Equities; PT 25 kronor
* Vitesco Rated New Buy at Citi; PT 72 euros
* Western Bulk Chartering Rated New Buy at Arctic Securities

>>> Call
* BAE Systems, QinetiQ Win If U.K. Boosts Defense Spending: Citi (+)
* Goldman Sachs Cuts Luxury Growth Expectations, Lifts Moncler (+)
* Enel Upgraded at Exane BNP With Risks Now Seen Priced In (+)
* Lancashire’s Valuation a Buying Opportunity, Jefferies Initiates
* Partners Group to Take ‘Breather’ After Stellar Results: ZKB (+)
* Sinch a Global Player Primed For Growth, New Buy at Berenberg
* YouGov’s 28% 1H Sales Growth ‘Most Encouraging,’ Berenberg Says (+)