>>> Europe : Brokers Upgrades & Downgrades - 5th of October 2023 V2(+)

>>> Up
* Abrdn plc Raised to Buy at Panmure Gordon; PT 250 pence
* Arjo Raised to Buy at ABG; PT 59 kronor
* Alstom Reiterates with Overweight, price target: €36 at JPMorgan Chase and Co
* Bachem Raised to Buy at Research Partners; PT 85 Swiss francs
* Carlsberg Raised to Hold at Kepler Cheuvreux (+)
* Heineken Raised to Buy at Kepler Cheuvreux (+)
* Lonza Raised to Hold at Intron Health; PT 465 Swiss francs
* Pernod Ricard Raised to Hold at Kepler Cheuvreux (+)
* SMA Solar Raised to Outperform at Oddo BHF (+)

>>> Down
* Bakkafrost Cut to Hold at DNB Markets; PT 525 kroner
* Britvic Cut to Hold at Kepler Cheuvreux (+)
* Gresham House Cut to Hold at Panmure Gordon; PT 1,105 pence
* Marriott Vacations Cut to Hold at Jefferies; PT $112
* Verbund Cut to Hold at Erste Group; PT 79.50 euros
* WithSecure Cut to Hold at SEB Equities; PT 1.10 euros

>>> Initiation
* Elekta Reinstated Underweight at Barclays; PT 70 kronor
* Delfingen Ind Rated New Buy at Gilbert Dupont; PT 70 euros (+)
* Mandatum Rated New Neutral at Goldman; PT 3.30 euros (+)
* Sandoz Group Rated New Overweight at Morgan Stanley
* Sandoz Group Rated New Overweight at JPMorgan (+)
* Straumann Reinstated Overweight at Barclays; PT 153 Swiss francs
* VBG Group Rated New Buy at Nordea; PT 270 kronor
* Vodafone Resumed Neutral at Citi

>>> Call
* Deutsche Bank Strategists See Subdued Earnings Season in Europe (+)
* Imperial Brands Shares Should See Some Relief: Morgan Stanley (+)
* Lonza Loses Only Sell as Intron Sees Risks Now Better Reflected
* Only a Stocks Crash Can Rescue the Bond Market, Barclays Says