>>> Europe : Brokers Upgrades & Downgrades - 22nd of October 2021

>>> Up
* BC Vaudoise Raised to Hold at Bank Vontobel; PT 73 Swiss francs
* Duni Raised to Buy at Handelsbanken; PT 140 kronor
* Elisa Raised to Neutral at JPMorgan; PT 57 euros
* Euronav Raised to Buy at ING; PT 11.15 euros
* Hays Raised to Buy at HSBC; PT 195 pence
* Iren Raised to Buy at Stifel; PT 3.20 euros
* OMV Raised to Buy at Raiffeisen Bank; PT 65 euros
* Orange Belgium Raised to Buy at HSBC; PT 23 euros
* RWE Raised to Buy at HSBC; PT 42 euros
* Voyageurs du Monde Raised to Outperform at Oddo BHF

>>> Down
* CareTech Cut to Hold at HSBC; PT 715 pence
* Epiroc Cut to Hold at Pareto Securities; PT 220 kronor
* Hannover Re Cut to Hold at SocGen; PT 165 euros
* HSBC Cut to Hold at Investec; PT 450 pence
* Mediobanca Cut to Equal-Weight at Barclays; PT 11.50 euros
* Orlen Cut to Hold at Raiffeisen Bank; PT 95 zloty
* Pearson Cut to Neutral at BofA; PT 700 pence

>>> Initiation
* ABB Rated New Hold at Vertical Research; PT 35 Swiss francs
* CureVac Rated New Hold at Deutsche Bank; PT $35
* Moderna Rated New Sell at Deutsche Bank; PT $250

>>> Call
* ‘Aggressive’ Dip Buying Leads to ~$25b Equity Inflow, BofA Says
* Encavis Raised to Buy, 2022 Seen More Exciting, Berenberg Says
* Essity’s 3Q Ebita in Line But Earnings Beat by 10%: Jefferies
* Howden Joinery Up to Buy at Peel Hunt on Expected Outperformance
* L’Oreal 3Q Sales ‘Gorgeous,’ Expect Shares to Rebound: Bernstein
* L’Oreal’s ‘Hugely Successful’ Rebalancing in Focus as 3Q Praised
* Sika 3Q Results Show Growth Momentum Continuing, Bergos Says
* French Caterer Sodexo Has Little Downside Risk From Report: Citi