>>> Europe : Brokers Upgrades & Downgrades - 28th of November 2023

>>> Up
* Ashmore Raised to Buy at Jefferies; PT 220 pence
* B&M European Raised to Buy at Citi; PT 640 pence
* BBVA Raised to Overweight at JPMorgan; PT 10.40 euros
* Boeing Raised to Outperform at RBC; PT $275
* DWS Raised to Overweight at Morgan Stanley; PT 38.10 euros
* Euronext Raised to Overweight at Morgan Stanley; PT 91.70 euros
* Infineon Raised to Buy at Jefferies; PT 46 euros
* Merlin Properties Raised to Buy at Goldman; PT 10.20 euros
* Smith & Nephew Raised to Equal-Weight at Barclays

>>> Down
* ABN Amro GDRs Cut to Hold at Deutsche Bank; PT 15 euros
* Hensoldt PT Cut to 24 euros from 25 euros at Morgan Stanley
* Julius Baer Cut to Underweight at Morgan Stanley
* Man Group Cut to Equal-Weight at Morgan Stanley; PT 266 pence
* Morgan Stanley Cut to Hold at SocGen; PT $80
* Nordnet Cut to Underweight at Morgan Stanley; PT 154 kronor
* Sonova Cut to Neutral at Redburn; PT 260 Swiss francs

>>> Initiation
* Benchmark Holdings Rated New Buy at Arctic Securities
* Estee Lauder Rated New Buy at HSBC; PT $180
* Frasers Group Rated New Overweight at Barclays; PT 1,060 pence
* Glencore Reinstated Outperform at RBC; PT 490 pence

>>> Call
* DWS, EQT, Euronext Raised at Morgan Stanley, Nordnet Downgraded
* Frasers Group New Overweight at Barclays on European Upside