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

>>> Up
* Lululemon Raised to Outperform at CICC; PT $454.57
* M&G Raised to Outperform at Mediobanca SpA; PT 254 pence
* Nordic Semiconductor Raised to Buy at Arctic Securities

>>> Down
* Aviva Cut to Neutral at Mediobanca SpA; PT 471 pence
* Dollar General Cut at Morgan Stanley on Greater Uncertainty
* Estee Lauder Cut to Market Perform at Oppenheimer

>>> Initiation
* Eramet Rated New Buy at Stifel; PT 140 euros
* Marimekko Rated New Buy at Nordea; PT 10.80 euros

>>> Call
* Dowlais New Buy at Jefferies as Ideal Play on Auto Recovery
* EU Industrials Could Pivot to Integration, Capex From Large M&A
* Equitrans Double-Upgraded at MS on MVP Pipeline Potential
* H&M, Zalando Both Put on Negative Catalyst Watch at JPMorgan
* Morgan Stanley Sees Shock 16% US Profit Drop Killing Stock Rally
* Morgan Stanley’s Secker Says Europe Stocks to Fall 10% in Summer