>>> Europe : Brokers Upgrades & Downgrades - 4th of January 2024 V2(+)

>>> Up

* Con Edison Raised to Sector Weight at KeyBanc
* Endesa Raised to Buy at SocGen; PT 23.80 euros

* Generali Raised to Equal-Weight at Morgan Stanley

* Siltronic Raised to Outperform at Oddo BHF; PT 120 euros (+)

>>> Down

* Capricorn Energy Cut to Hold at Jefferies; PT 160 pence

* EnQuest Cut to Hold at Jefferies; PT 14 pence

* Forterra Cut to Neutral at Citi; PT 170 pence
* Geberit Cut to Neutral at Goldman; PT 548 Swiss francs

* Maersk Cut to Neutral at JPMorgan; PT 14,400 kroner

* Man Group Cut to Hold at Panmure Gordon; PT 320 pence

* Mattel Cut to Neutral at Roth MKM; PT $20

* MTG Cut to Hold at ABG; PT 90 kronor

* Papa John's Cut to Sell at Stifel; PT $65

* PayPal Cut to Market Perform at Oppenheimer

* Pharos Energy Cut to Hold at Jefferies; PT 24 pence

* Sartorius Cut to Hold at Deutsche Bank; PT 315 euros

* Tenaris Cut to Hold at Jefferies; PT 18 euros

* Tenaris ADRs Cut to Hold at Jefferies; PT $39.60

* Tullow Cut to Underperform at Jefferies; PT 27 pence

* Wacker Chemie Cut to Hold at Stifel; PT 122 euros

* Worldline Cut to Equal-Weight at Barclays; PT 14.20 euros

* Zurich Ins. Cut to Underweight at Morgan Stanley

>>> Initiation

* Darktrace Rated New Hold at Investec; PT 375 pence (+)
* Electrolux Re-Initiated Underweight at Barclays; PT 92 kronor

* Elis Rated New Buy at Redburn; PT 26.80 euros

* HomeToGo Rated New Buy at Stifel; PT 4.60 euros

* Medincell Rated New Buy at Jefferies; PT 12 euros

* Volex Rated New Buy at Berenberg; PT 400 pence

>>> Call

* Forterra Downgraded to Neutral at Citi on Slow Volume Recovery

* Medincell Rated New Buy by Jefferies as ‘Best-Positioned’ Player (+)

* Tenaris Cut to Hold, Jefferies Sees Negative Earnings Momentum (+)

* Tullow Oil Among E&P Sector Rating Downgrades at Jefferies
* Zurich Cut, Generali Raised, AXA Top Pick at Morgan Stanley