>>> Europe : Brokers Upgrades & Downgrades - 4th of November 2022 V2(+)

>>> Up
* Atal Raised to Hold at Erste Group; PT 29.72 zloty (+)
* Barry Callebaut Raised to Add at Baader Helvea
* Basic-Fit Raised to Hold at Berenberg; PT 26 euros
* Develia SA Raised to Buy at Erste Group; PT 2.65 zloty (+)
* Digital Workforce Services Raised to Buy at Inderes
* Fastighets AB Trianon Raised to Hold at Handelsbanken (+)
* Instabank Raised to Buy at Pareto Securities; PT 1.90 kroner (+)
* Kahoot Raised to Buy at SpareBank; PT 22 kroner
* Scatec Raised to Buy at SpareBank; PT 100 kroner
* Shop Apotheke Raised to Buy at Hauck & Aufhaeuser; PT 60 euros (+)
* Telefonica Deutschland Raised to Overweight at Barclays
* Verbund Raised to Hold at Stifel; PT 78 euros
* Vopak Raised to Neutral at Oddo BHF; PT 23 euros

>>> Down
* British Land Cut to Hold at Liberum; PT 355 pence
* CaixaBank Cut to Market Perform at KBW; PT 4.10 euros
* Caverion Cut to Hold at Inderes; PT 7 euros
* Kahoot Cut to Hold at SEB Equities; PT 23 kroner
* Man Group Cut to Sell at Canaccord; PT 194 pence (+)
* Polar Capital Cut to Hold at Numis; PT 450 pence
* Sainsbury Cut to Neutral at Exane; PT 210 pence
* Vestas Cut to Add at AlphaValue/Baader (+)

>>> Initiation
* Darktrace Rated New Buy at Numis; PT 520 pence
* IAG Resumed Equal-Weight at Morgan Stanley
* PepsiCo Rated New Sell at Redburn (+)
* Spie Reinstated Hold at Jefferies; PT 24 euros (+)

>>> Call
* Barry Callebaut Upgraded by Baader With Most Negatives Priced In
* GEA Group 3Q Solid, Adj. Ebitda Beat Is Surprising: Jefferies (+)
* Kering Acquiring Tom Ford Would Be ‘Compelling,’ RBC Says (+)
* Kion’s Weak Cash Flow Guide Worries, Citi Sees 2023 Improvement
* Sainsbury Shares ‘Due a Pause,’ Exane BNP Downgrades to Neutral (+)
* Telefonica 3Q Beats, Spanish Trends in Focus: Morgan Stanley (+)