>>> Europe : Brokers Upgrades & Downgrades - 27th of January 2023 V2(+)

>>> Up
* 888 Raised to Overweight at JPMorgan; PT 165 pence
* Adidas Raised to Buy at M.M. Warburg; PT 180 euros (+)
* Aena Raised to Equal-Weight at Barclays; PT 139 euros
* Akero Therapeutics Raised to Overweight at Morgan Stanley (+)
* Credit Suisse Raised to Equal-Weight at Morgan Stanley
* Equinor Raised to Neutral at Goldman; PT 390 kroner
* Evli Raised to Accumulate at Inderes; PT 19 euros (+)
* Foot Locker PT Raised to $43 from $31 at Williams Trading
* Geberit Raised to Outperform at Exane; PT 588 Swiss francs
* Granges Raised to Hold at Handelsbanken
* HeidelbergCement Raised to Neutral at Exane; PT 55.50 euros
* JCDecaux Raised to Overweight at Barclays; PT 27.50 euros
* Monte Paschi Raised to Equal-Weight at Barclays; PT 2.40 euros
* Rockwool Raised to Neutral at JPMorgan; PT 1,810 kroner
* Sabadell Raised to Neutral at Exane; PT 1.20 euros

>>> Down
* Adevinta Cut to Hold at Nordea
* Airbus Cut to Hold at Jefferies; PT 130 euros
* Almirall Cut to Neutral at Oddo BHF; PT 10 euros
* Antofagasta Cut to Reduce at Peel Hunt; PT 1,400 pence
* CBRE Cut to Market Perform at KBW; PT $88
* Close Brothers Cut to Hold at Peel Hunt; PT 1,031 pence
* Flutter Cut to Neutral at JPMorgan; PT 15,900 pence
* Hess Cut to Neutral at Goldman; PT $170
* HMS Networks Cut to Hold at DNB Markets; PT 405 kronor
* Mitchells & Butlers Cut to Hold at Jefferies; PT 170 pence
* Northrop Grumman Cut to Peerperform at Wolfe
* Safilo Cut to Hold at Intesa Sanpaolo; PT 1.69 euros (+)
* Smurfit Kappa Cut to Equal-Weight at Morgan Stanley
* STMicroelectronics Cut to Accumulate at Banca Akros (+)
* Travis Perkins Cut to Underperform at Exane; PT 866 pence

>>> Initiation
* CBRE Reinstated Buy at Citi; PT $100
* CNH Industrial Rated New Buy at Berenberg; PT $31
* Elia Group Reinstated Neutral at Goldman; PT 140 euros (+)
* Hoegh Autoliners Rated New Buy at Fearnley; PT 80 kroner (+)
* Jones Lang Rated New Neutral at Citi; PT $200
* Schaeffler Reinstated Buy at Deutsche Bank; PT 8 euros (+)
* Vale ADRs Reinstated Outperform at Credit Suisse; PT $25.50 (+)

>>> Call
* Aena Raised to Equal Weight as Bear Case Unwinding: Barclays (+)
* Airbus Cut to Hold at Jefferies on Delivery Miss, 2023 Guidance (+)
* Antofagasta Cut to Reduce on Above Average Multiples: Peel Hunt (+)
* Billerud Called Down on Earnings, Dividend Miss: Handelsbanken (+)
* Close Brothers Cut at Peel Hunt on Limited Short-Term Upside (+)
* CNH Industrial Rated New Buy at Berenberg, Sees Further Gain (+)
* Credit Suisse Resumed Equal-Weight, Execution Risk High: MS (+)
* Italian Banks Estimates Raised, Paschi Upgraded: Barclays (+)
* Ferragamo Sales Update ‘as Challenging as Expected’: Jefferies (+)
* Siemens Cut at Berenberg as Expectations Getting Harder to Beat
* Time to Take Profits on Packaging Stocks, Smurfit Kappa Cut: MS