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

>>> Up
* Ageas Raised to Buy at ING; PT 50 euros
* BioMerieux Raised to Hold at HSBC; PT 90 euros
* Caltagirone Raised Mediobanca Stake to 9.9%: Stampa
* Collector Bank Raised to Buy at DNB Markets; PT 40 kronor
* Globalstar Raised to Equal-Weight at Morgan Stanley; PT 97 cents
* HSBC Raised to Buy at Berenberg; PT 780 pence
* Molson Coors Raised to Neutral at JPMorgan; PT $64
* Permascand Top Holding Raised to Buy at ABG; PT 25 kronor
* Richemont PT Raised to 185 Swiss francs at HSBC
* TUI Raised to Buy at HSBC; PT 9.10 euros

>>> Down
* Dormakaba Cut to Neutral at Credit Suisse; PT 447 Swiss francs
* Nemetschek Cut to Reduce at Baader Helvea; PT 73 euros

>>> Initiation
* Basilea Rated New Buy at Baader Helvea; PT 57.70 Swiss francs
* Eni Maintained at Neutral at Intermonte; PT 15 euros

>>> Call
* Ambu’s Soft Organic Growth Disappointing, Handelsbanken Says
* Colruyt Guidance Raise Importantly Driven by Cost Savings: MS
* Dormakaba Cut at Credit Suisse on Margin Expansion Pessimism
* HSBC Raised at Berenberg With Structural Attractions Undervalued
* Morgan Stanley, UBS Pick Bonds Over Stocks on Recession Risk
* Nemetschek Downgraded at Baader as Good Momentum Set to Slow
* Neoen’s Guidance Clarification Is Encouraging: Morgan Stanley
* Oerlikon Delivers Results Ahead of Soft Expectations, RBC Says
* Sinch Loses Only Sell as Morgan Stanley Upgrades After De-Rating