>>> Europe : Brokers Upgrades & Downgrades - 28th of October 2022

>>> Up
* AB InBev ADRs Raised to Buy at CFRA; PT $60
* Axactor ASA Raised to Buy at DNB Markets; PT 8 kroner
* Danske Bank Raised to Buy at ABG; PT 130 kroner
* Gilead Raised to Buy at Truist Secs; PT $91
* Sobi Raised to Buy at Handelsbanken
* Solar Raised to Buy at SEB Equities; PT 645 kroner
* Ubisoft Raised to Neutral at Goldman; PT 37 euros

>>> Down
* AB Foods Cut to Hold at HSBC; PT 1,375 pence
* Asos Cut to Reduce at AlphaValue/Baader
* Bonava Cut to Hold at Handelsbanken
* H+H Cut to Hold at SEB Equities; PT 120 kroner
* H&M Cut to Reduce at HSBC; PT 85 kronor
* ITM Power Cut to Hold at HSBC; PT 90 pence
* Incap Cut to Reduce at Inderes; PT 17 euros
* INWIT Cut to Neutral at New Street Research; PT 10.30 euros
* Lassila & Tikanoja Cut to Reduce at Inderes; PT 11 euros
* Lehto Group Cut to Sell at Inderes; PT 20 euro cents
* Marks & Spencer Cut to Hold at HSBC; PT 105 pence
* Norsk Hydro Cut to Underweight at JPMorgan; PT 58 kroner
* Orpea Cut to Sell at AlphaValue/Baader
* Sampo Cut to Reduce at Inderes; PT 46 euros

>>> Initiation
* Smith & Nephew Reinstated Equal-Weight at Morgan Stanley

>>> Call
* Airbus Strong FCF Led to Goal Raise, 3Q Ebit ‘Light:’ Analysts
* Holcim Beat, Share Buyback is ‘Positive Surprise,’ Says MS