>>> Europe : Brokers Upgrades & Downgrades - 27th of January 2022

>>> Up
* Air Liquide Raised to Buy at Goldman; PT 188 euros
* Cargotec Raised to Overweight at Morgan Stanley; PT 55 euros
* Carmila Raised to Outperform at Exane; PT 15.50 euros
* Centrica Raised to Reduce at AlphaValue/Baader
* Derwent London Raised to Outperform at Exane; PT 3,820 pence
* Experian Raised to Sector Perform at RBC; PT 2,850 pence
* Galapagos Raised to Buy at Citi; PT 61 euros
* Gecina Raised to Buy at HSBC; PT 151 euros
* HSBC Raised to Outperform at Exane; PT 650 pence
* Konecranes Raised to Overweight at Morgan Stanley; PT 45 euros
* LEG Immobilien Raised to Outperform at Exane; PT 139 euros
* Legrand Raised to Buy at Jefferies; PT 104 euros
* Musti Group Raised to Buy at Carnegie; PT 32 euros

>>> Down
* ArcelorMittal Cut to Neutral at Goldman; PT 33 euros
* Bpost Cut to Hold at Jefferies; PT 7.50 euros
* Fresnillo Cut to Hold at Jefferies; PT 790 pence
* Grifols Cut to Neutral at Alantra Equities; PT 21.05 euros
* Grifols ADRs Cut to Neutral at Alantra Equities; PT $23.79
* Man Group Cut to Neutral at Exane; PT 240 pence
* Orpea Cut to Sell at AlphaValue/Baader
* Rentokil Cut to Neutral at Exane; PT 550 pence
* Saab Cut to Hold at SEB Equities; PT 250 kronor
* Shurgard Cut to Neutral at Exane; PT 50 euros

>>> Initiation
* About You Rated New Buy at Jefferies; PT 23 euros
* Dianomi Re-Initiated Buy at Liberum; PT 460 pence
* Kerry Group Rated New Overweight at Morgan Stanley; PT 127 euros

>>> Call
* Bpost Outlook Seems More Challenging, Cut to Hold at Jefferies
* Fresnillo Downgraded at Jefferies on Delayed Return to Growth
* Galapagos Raised to Buy at Citi on Cash Deployment Opportunities
* JPMorgan’s Wolf Says U.S. Stock Selloff is Overdone
* J.B. Hunt Raised as Barclays Sees Favorable Returns, Volume Up
* Odds for Aggressive Tightening by Fed ‘Materially Higher’: DB