>>> Europe : Brokers Upgrades & Downgrades - 24th of January 2023

>>> Up
* Alcon PT Raised to $85 from $70 at Argus
* Atlantic Sapphire ASA Raised to Buy at Arctic Securities
* DS Smith Raised to Outperform at Davy
* Industrials REIT Cut to Hold at Panmure Gordon; PT 131 pence
* Shaftesbury Raised to Buy at Panmure Gordon; PT 459 pence
* Swatch Raised to Equal-Weight at Morgan Stanley
* US Solar Fund Raised to Positive at Stifel

>>> Down
* AMD Cut to Market Perform at Bernstein
* Ambu Cut to Sell at SEB Equities; PT 85 kroner
* Canada Goose Cut to Neutral at Baird; PT C$38.73
* Direct Line Cut to Sell at Citi
* Ericsson Cut to Sell at Goldman; PT 50 kronor
* Ericsson ADRs Cut to Sell at Goldman; PT $4.90
* Greencoat UK Wind Cut to Positive at Stifel
* JLEN LN Cut to Positive at Stifel
* Randstad Cut to Underperform at Oddo BHF; PT 50 euros
* RCOI LN Cut to Positive at Stifel
* Sage Cut to Add at Numis; PT 880 pence
* Sobi Cut to Hold at Handelsbanken
* Unite Group Cut to Hold at Panmure Gordon; PT 1,038 pence

>>> Initiation
* Do & Co Reinstated Buy at Berenberg; PT 60 euros
* Kesko Rated New Buy at DNB Markets; PT 25 euros

>>> Call
* Citi Reshuffles EU Insurer Picks, Downgrades Direct Line to Sell
* Davy Sees Positive Risk-Reward in Packaging, DS Smith Raised
* E.ON Still Offers 20% Upside After PT Cut, Berenberg Says
* Ericsson Cut, PT to Street-Low at Goldman Amid Series of Risks
* Liberum Raises Airline Price Targets, EasyJet Preferred Pick