>>> Europe : Brokers Upgrades & Downgrades - 22nd of October 201

>>> Up
* Poste Italiane Raised to Buy at Goldman; PT 13 euros
* SSE Raised to Buy at HSBC; PT 1,480 pence
* Tomra Raised to Hold at SEB Equities; PT 220 kroner
* Umicore Raised to Overweight at JPMorgan; PT 42 euros

>>> Down
* Atlas Copco Cut to Sell at Pareto Securities; PT 320 kronor
* Lanxess Cut to Neutral at JPMorgan; PT 60 euros
* Lloyds Cut to Neutral at Citi
* Mediobanca Cut to Equal-Weight at Morgan Stanley
* Sabre Insurance Cut to Add at Peel Hunt
* TUI Cut to Equal-Weight at Morgan Stanley; PT 1,050 pence

>>> Initiation
* Amundi Reinstated Underweight at Barclays; PT 57 euros
* Aveva Rated New Buy at Panmure Gordon; PT 4,423 pence
* Capital & Regional Reinstated Hold at Peel Hunt; PT 28 pence
* CYBG Rated New Buy at HSBC; PT 160 pence
* DWS Reinstated Overweight at Barclays; PT 34 euros
* Inficon Rated New Buy at Jefferies; PT 759 Swiss francs
* Metro Bank Rated New Hold at HSBC; PT 180 pence
* M&G Rated New Buy at BofAML; PT 260 pence
* Pfeiffer Vacuum Rated New Hold at Jefferies; PT 140 euros
* SIT SpA Rated New Outperform at Mediobanca SpA; PT 9 euros

>>> Call
* Software Analysts See More Selling on ‘Unsustainable’ Valuations
* TUI Cut on 737 MAX Issues, Demand Uncertainty: Morgan Stanley
* Maersk’s Raised Forecast at Least Partly Expected: Jefferies