>>> Europe : Brokers Upgrades & Downgrades - 3rd of August 2023

>>> Up
* 1&1 Raised to Outperform at BNPP Exane
* Cranswick PT Raised to 4,620 pence from 4,000 pence at Berenberg
* Hochschild Mining Raised to Buy at Berenberg; PT 100 pence
* Revenio Raised to Accumulate at Inderes; PT 26 euros

>>> Down
* AUTO1 Cut to Hold at HSBC; PT 9 euros
* DWF Group Cut to Hold at Peel Hunt
* Elior Group Cut to Sell at Stifel; PT 1.90 euros
* Eramet Cut to Reduce at AlphaValue/Baader
* Hexagon Composites Cut to Neutral at SpareBank; PT 30 kroner
* Hexagon Composites Cut to Hold at DNB Markets; PT 31 kroner
* LEG Immobilien Cut to Add at Baader Helvea; PT 70 euros
* Novem Group Cut to Neutral at JPMorgan; PT 13 euros
* Siltronic Cut to Add at AlphaValue/Baader
* Telefonica Deutschland Cut to Reduce at HSBC; PT 1.70 euros

>>> Initiation
* Ferretti Rated New Buy at Berenberg; PT 4.70 euros
* Restore Reinstated Hold at Peel Hunt; PT 169 pence

>>> Call
* Ferretti Rated New Buy at Berenberg on Improving Fundamentals
* Hochschild Upgraded at Berenberg as Peru Permit De-Risks Story