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

>>> Up
* Dufry AG Raised to Overweight at Morgan Stanley
* Eurobank Raised to Buy at Deutsche Bank; PT 1.70 euros
* Kellogg Raised to Neutral at JPMorgan; PT $72
* Piraeus Bank Raised to Buy at Deutsche Bank; PT 2.95 euros
* Proximus Raised to Equal-Weight at Morgan Stanley; PT 8.80 euros
* Sats Raised to Buy at ABG; PT 13 kroner
* Sievi Capital Raised to Buy at Inderes; PT 1.20 euros
* Spire Healthcare Raised to Outperform at RBC; PT 270 pence
* Teleste Raised to Accumulate at Inderes; PT 4.10 euros

>>> Down
* AAK Cut to Hold at Handelsbanken
* Kahoot Cut to Hold at Pareto Securities; PT 25 kroner
* Kahoot Cut to Neutral at SpareBank; PT 22 kroner

>>> Initiation
* Barry Callebaut Assumed Outperform at Credit Suisse
* Bytes Technology Rated New Buy at Peel Hunt; PT 489 pence
* Deep Value Driller Rated New Buy at SpareBank; PT 32 kroner
* Seeing Machines Rated New Buy at Peel Hunt; PT 12 pence

>>> Call
* BofA, Goldman Strategists See Muted 2023 Global Earnings Growth
* Dufry Raised at MS on Underappreciated Travel Recovery Upside
* Spire Healthcare Raised at RBC on Signs of Market Improvements