>>> Europe : Brokers Upgrades & Downgrades - 26th of July 2023

>>> Up
* Alfa Laval Raised to Equal-Weight at Morgan Stanley
* Assa Abloy Cut to Neutral at UBS
* Firm Capital Apartment R Raised to Buy at Laurentian Bank
* Frontier Developments Raised to Buy at Jefferies; PT 680 pence
* Humana Raised to Buy at ABG; PT 35 kronor
* Julius Baer Raised to Market Perform at KBW; PT 64 Swiss francs
* NetApp Inc Raised to Equal-Weight at Morgan Stanley; PT $74
* Tyman Raised to Buy at Berenberg

>>> Down
* Alm Equity Cut to Sell at Arctic Securities; PT 404 kronor
* Basic-Fit Cut to Equal-Weight at Morgan Stanley; PT 38 euros
* Embracer Cut to Hold at HSBC; PT 32 kronor
* Glaston Cut to Reduce at Inderes; PT 95 euro cents
* Glencore Cut to Hold at HSBC; PT 510 pence
* Lotus Bakeries Cut to Hold at Berenberg
* MGI - Media and Games Invest SE Cut to Hold at Jefferies
* Nordic Semiconductor Cut to Hold at Deutsche Bank; PT 150 kroner
* PJT Partners Cut to Peerperform at Wolfe
* Rovio Cut to Hold at Jefferies; PT 9.25 euros
* Steico Cut to Hold at Berenberg

>>> Initiation
* Embracer Rated New Hold at Jefferies; PT 30 kronor

>>> Call
* Alfa Laval Upgraded at Morgan Stanley With 2024 Well Underpinned
* Basic-Fit Cut at Morgan Stanley on Churn, Stalled Membership