>>> Europe : Brokers Upgrades & Downgrades - 22nd of November 2023 V2(+)

>>> Up
* Aperam Raised to Outperform at BNPP Exane; PT 34 euros
* Applied Materials Raised to Buy at Redburn; PT $127.31 (+)
* ASMI Raised to Buy at Redburn; PT 350.30 euros (+)
* Clorox Raised to Neutral at JPMorgan; PT $145
* Coca-Cola Femsa ADRs Raised to Outperform at Grupo Santander
* Hugo Boss Raised to Buy at Deutsche Bank; PT 79 euros (+)

>>> Down
* ABN Amro GDRs Cut to Underperform at KBW; PT 15 euros
* Adevinta Cut to Hold at DNB Markets; PT 115 kroner (+)
* Adevinta Cut to Neutral at Oddo BHF; PT 110 kroner (+)
* Aker Horizons Cut to Sell at SpareBank; PT 3 kroner
* Alior Cut to Hold at Erste Group; PT 80.60 zloty (+)
* BE Semiconductor Cut to Hold at KBC Securities; PT 115 euros (+)
* Brunel Cut to Neutral at Oddo BHF; PT 13.90 euros
* CA Immo Cut to Hold at Deutsche Bank; PT 30 euros (+)
* Givaudan Cut to Underweight at Morgan Stanley
* Handlowy Cut to Hold at Erste Group; PT 100 zloty (+)
* Helical Cut to Add at Numis; PT 300 pence (+)
* HSBC Cut to Sector Perform at RBC; PT 775 pence
* Inditex Cut to Neutral at JB Capital Markets; PT 41.20 euros (+)
* Interroll Cut to Hold at Berenberg; PT 2,750 Swiss francs
* Kion Cut to Hold at Berenberg; PT 37 euros
* MBank Cut to Sell at Erste Group; PT 495 zloty (+)
* Millennium Cut to Reduce at Erste Group; PT 7.20 zloty (+)
* MPC Container Ships ASA Cut to Hold at Fearnley; PT 15 kroner
* Outokumpu Cut to Neutral at BNPP Exane; PT 4 euros
* Pekao Cut to Hold at Erste Group; PT 150 zloty (+)
* PKO Bank Polski Cut to Accumulate at Erste Group; PT 55 zloty (+)
* Rheinmetall PT Raised to 370 euros from 340 euros at JPMorgan
* Santander Bank Polska Cut to Reduce at Erste Group; PT 446 zloty (+)
* Verbund Cut to Sell at Citi; PT 75 euros
* Victoria Cut to Add at Peel Hunt; PT 400 pence (+)

>>> Initiation
* Ambev ADRs Rated New Hold at Jefferies; PT $2.86
* Basic-Fit Rated New Corporate at Edison Investment Research
* BE SEMI REINSTATED AT KBC SECURITIES WITH HOLD RATING, EU115 PT
* Devolver Digital Re-Initiated Buy at Berenberg; PT 31 pence
* Frontier Developments Re-Initiated Hold at Berenberg
* Howden Joinery Reinstated Buy at Jefferies; PT 835 pence
* Inmobiliaria Colonial Reinstated Hold at Deutsche Bank (+)
* Merlin Properties Reinstated Buy at Deutsche Bank; PT 11 euros (+)
* Prysmian Rated New Neutral at Oddo BHF; PT 40 euros

>>> Call
* RBC’s Calvasina Sees S&P 500 Rallying to a Record 5,000 in 2024
* Givaudan Downgraded at Morgan Stanley on Weak Growth Prospects
* Howden Joinery a Buy at Jefferies, Scope For More Outperformance
* Kion, Interroll Downgraded at Berenberg; Kardex Top Sector Pick
* Novo Nordisk PT, Wegovy Peak Sales Expectations Lifted at Intron (+)
* Verbund Offers Limited Upside Risk, Downgraded to Sell at Citi