>>> Europe : Brokers Upgrades & Downgrades - 5th of December 2023

>>> Up
* Acciona Raised to Neutral at BNPP Exane; PT 136 euros
* ADP Raised to Neutral at Oddo BHF; PT 122 euros
* BLUENORD ASA Raised to Buy at SpareBank; PT 605 kroner
* British Land Raised to Neutral at Goldman; PT 350 pence
* Capgemini PT Raised to 235 euros from 215 euros at Citi
* Equinor Raised to Buy at SpareBank; PT 410 kroner
* Fraport Raised to Outperform at Oddo BHF; PT 60 euros
* Land Sec. Raised to Buy at Goldman; PT 690 pence
* MPC Energy Solutions Raised to Buy at Arctic Securities

>>> Down
* Aedas Homes SA Cut to Hold at Mirabaud Securities; PT 18 euros
* Albemarle Cut to Underweight at Piper Sandler; PT $128
* Auction Technology Group Cut to Equal-Weight at Barclays
* EuroAPI Cut to Neutral at JPMorgan; PT 4.50 euros
* Gecina Cut to Neutral at Goldman; PT 103.50 euros
* IPC Cut to Sector Perform at Peters & Co; PT 144.27 kronor
* Sanofi Cut to Neutral at JPMorgan; PT 92 euros
* Straumann Cut to Neutral at JPMorgan; PT 139 Swiss francs
* UCB Cut to Underweight at JPMorgan; PT 70 euros

>>> Initiation
* Adyen Rated New Outperform at BMO; PT 1,300 euros
* Carl Zeiss Meditec Rated New Underweight at JPMorgan
* Certara Rated New Sector Weight at KeyBanc
* Hapag-Lloyd Rated New Underweight at Barclays; PT 65 euros
* HomeToGo Rated New Buy at Hauck & Aufhaeuser; PT 5.30 euros
* Microsoft Rated New Buy at China Renaissance; PT $466

>>> Call
* Adyen New Outperform at BMO on Revenue Growth Acceleration
* Capgemini PT Raised at Citi, Is Top Software and Services Pick
* Investors Ramp Up Bearish S&P 500 Positioning: Citi’s Montagu
* Morgan Stanley Still Cautious on Worldline, Cuts Nexi Estimates