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

>>> Up
* Akzo Nobel Raised to Buy at Deutsche Bank; PT 90 euros
* American Express Raised to Outperform at RBC; PT $200
* Boliden Raised to Buy at Deutsche Bank; PT 380 kronor
* Bunzl Raised to Buy at Goodbody; PT 3,200 pence (+)
* Colruyt Raised to Overweight at JPMorgan; PT 39.80 euros
* EDP Renovaveis Raised to Overweight at Morgan Stanley
* Ence Raised to Buy at JB Capital Markets; PT 4 euros (+)
* Lancashire Raised to Equal-Weight at Morgan Stanley
* Maisons du Monde Raised to Neutral at Bryan Garnier; PT 9 euros (+)
* Oracle Raised to Overweight at Barclays; PT $150 (+)
* RELX Raised to Buy at Investec; PT 2,850 pence
* Sanofi Raised to Buy at Berenberg; PT 115 euros
* Siemens Healthineers Raised to Buy at HSBC; PT 56 euros
* Tryg Raised to Overweight at Morgan Stanley; PT 178 kroner

>>> Down
* Aedifica Cut to Hold at SocGen; PT 62.50 euros
* Ahold Delhaize Cut to Underweight at JPMorgan; PT 28.17 euros
* BBVA Cut to Equal-Weight at Morgan Stanley; PT 9.20 euros
* B&M European Cut to Underweight at JPMorgan; PT 513 pence
* Boohoo Cut to Neutral at BNPP Exane (+)
* Campari Cut to Equal-Weight at Morgan Stanley; PT 13.30 euros
* CFE Cut to Underperform at Oddo BHF (+)
* CMC Markets Cut to Add at Peel Hunt; PT 140 pence
* Commerzbank Cut to Underweight at Barclays; PT 10.80 euros (+)
* Cie du Bois Sauvage Cut to Accumulate at KBC Securities (+)
* Credit Agricole Cut to Sell at Goldman; PT 11.50 euros
* Fnac Darty Cut to Sell at Bryan Garnier; PT 27 euros (+)
* Fresenius SE Cut to Hold at HSBC; PT 33 euros
* Headlam Cut to Hold at Peel Hunt; PT 250 pence (+)
* Informa Cut to Hold at Investec; PT 775 pence
* J. Martins Cut to Underweight at JPMorgan; PT 20.80 euros
* Hiscox Cut to Equal-Weight at Morgan Stanley; PT 1,233 pence
* Kingspan Cut to Hold at SocGen; PT 77 euros
* National Grid South West Cut to Reduce at AlphaValue/Baader
* Roche Cut to Hold at Berenberg; PT 290 Swiss francs
* Tesco Cut to Neutral at JPMorgan; PT 250 pence
* Volvo Car Cut to Hold at SEB Equities; PT 44 kronor

>>> Initiation
* Alten Rated New Buy at Stifel; PT 170 euros
* Coloplast Reinstated Neutral at Goldman; PT 820 kroner
* ConvaTec Reinstated Buy at Goldman; PT 300 pence
* EDP Resumed Overweight at Morgan Stanley; PT 5.20 euros
* Headlam Cut to Hold at Peel Hunt; PT 250 pence (+)
* Trainline Rated New Buy at Canaccord; PT 371 pence (+)

>>> Call
* BBVA Cut at Morgan Stanley, SocGen Now Among Top Bank Picks
* Campari Cut as Morgan Stanley Says Wait For Better Entry Point
* Credit Agricole Cut at Goldman as Estimates Turn More Cautious (+)
* EDP Renovaveis Raised at Morgan Stanley, EDP Resumed Overweight
* Reinsurers, Multi-Liners Favored by Morgan Stanley in Insurance
* Sanofi Raised at Berenberg, Roche Cut on Pipeline Outlook (+)