>>> Europe : Brokers Upgrades & Downgrades - 26th of July 2022

>>> Up
* Awilco LNG Raised to Buy at Arctic Securities; PT 8 kroner

>>> Down
* Basic-Fit Cut to Sell at Berenberg; PT 33 euros
* Fiskars Cut to Hold at SEB Equities; PT 20 euros
* HeidelbergCement Cut to Neutral at Exane; PT 56.50 euros
* Sinch Cut to Hold at Berenberg; PT 30 kronor
* Stora Enso Cut to Neutral at Exane; PT 17 euros
* Vicat Cut to Neutral at Exane; PT 32 euros

>>> Initiation
* CVG IM Rated New Outperform at EnVent S.p.A.; PT 5.06 euros
* Havila Kystruten Rated New Neutral at SpareBank; PT 20 kroner
* ITM Power Rated New Buy at Peel Hunt; PT 500 pence
* Teleperformance Rated New Outperform at RBC; PT 400 euros
* Veolia Reinstated Underweight at JPMorgan; PT 22.50 euros

>>> CallMargin Pressures Spark Europe Profit Cuts, Morgan Stanley Says
*
* Basic-Fit Gets Only Sell as Berenberg Says Lots ‘Could Go Wrong’
* DSV Raises Profit Outlook as Trade-Lane Congestion Boosts Prices
* ITM Power Has ‘Commanding’ Attributes, New Buy at Peel Hunt
* Morgan Stanley Warns Stock Bulls Deluded by ‘Wishful Thinking’
* Sinch Cut to Hold at Berenberg With Sentiment Now ‘Tarnished’
* Stora Enso Cut to Neutral at Exane on Cautious Pulp Outlook
* Teleperformance a New Outperform at RBC as Long-Term Winner
* Veolia Rated Underweight at JPMorgan on Energy Crisis Pressures