>>> Europe : Brokers Upgrades & Downgrades - 25th of November 2022

>>> Up
* BCP Raised to Buy at AlphaValue/Baader
* Elekta Raised to Buy at Handelsbanken
* Elia Group Raised to Hold at Bank Degroof Petercam; PT 141 euros
* WithSecure Raised to Buy at Inderes; PT 2 euros

>>> Down
* Adevinta Cut to Hold at SEB Equities; PT 85 kroner
* Carlsberg Cut to Hold at SEB Equities; PT 980 kroner
* Intrum Cut to Hold at Nordea
* NatWest Cut to Sector Perform at RBC; PT 290 pence

>>> Initiation
* Ashtead Technology Rated New Buy at Peel Hunt; PT 375 pence
* BioArctic Rated New Buy at Nordea; PT 356 kronor
* Grifols Resumed Neutral at Credit Suisse; PT 10 euros

>>> Call
* Deutsche Bank Upgraded at RBC After ‘Unjustified’ De-Rating
* Lloyds Double-Upgraded on Cost Control at RBC, Natwest Cut
* Rockwool Raised at Handelsbanken, Says Margins Have Bottomed Out
* SGS Double-Downgraded at Barclays With Stock Fully Valued