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

>>> Up
* AutoZone Raised to Buy at Goldman; PT $2,296
* Coloplast Raised to Buy at ABG; PT 925 kroner
* Faurecia SE Raised to Buy at Jefferies; PT 28 euros
* Fresenius Medical Raised to Buy at Jefferies; PT 64 euros
* Fresenius Medical ADRs Raised to Buy at Jefferies; PT $33.70
* Hermes Raised to Buy at HSBC; PT 1,350 euros
* Kion Raised to Overweight at Morgan Stanley; PT 63 euros
* Moncler Raised to Buy at HSBC; PT 53 euros
* Pagegroup Raised to Overweight at Morgan Stanley; PT 510 pence

>>> Down
* 4d pharma ADRs Cut to Neutral at Ladenburg Thalmann
* Go-Ahead Cut to Sector Perform at RBC; PT 1,600 pence
* Merlin Properties Cut to Neutral at JPMorgan; PT 12 euros
* Ocado Cut to Neutral at Credit Suisse; PT 960 pence
* Randstad Cut to Underweight at Morgan Stanley; PT 49 euros
* TeamViewer Cut to Neutral at JPMorgan; PT 12 euros
* Thule Cut to Hold at Handelsbanken

>>> Initiation
* Big Technologies Rated New Buy at Berenberg; PT 320 pence
* Fresenius Medical Double-Upgraded, Confidence Raised: Jefferies
* LBG Media Rated New Buy at Berenberg; PT 180 pence
* Staffers Offer Value, But Be Selective, Morgan Stanley Says

>>> Call
* European Stocks Not Yet Pricing In Recession, MS Strategists Say
* Evercore’s Emanuel Sees Potential Tradable Rally Into Next FOMC
* Faurecia Raised to Buy at Jefferies With Stock Overhang Removed
* Kion Raised as Morgan Stanley Says Structural Case Still Intact
* Ocado Cut at Credit Suisse With Prior Views ‘Too Optimistic’