>>> Up
* Acciona Raised to Add at AlphaValue/Baader
* Avance Gas Raised to Buy at Pareto Securities; PT 61 kroner
* Borregaard Raised to Buy at SEB Equities; PT 215 kroner
* Fraport Raised to Buy at Goldman; PT 64 euros
* Hochschild Mining Raised to Buy at Berenberg; PT 160 pence
* IWG Raised to Buy at Peel Hunt; PT 353 pence
* Randstad Raised to Buy at HSBC; PT 70 euros
* Repsol Raised to Buy at Jefferies; PT 15 euros
>>> Down
* ADP Cut to Sell at Goldman; PT 110 euros
* Fraport Cut to Hold at Deutsche Bank; PT 49 euros
* Freeport Cut to Neutral at Exane; PT $50
* Holmen Cut to Hold at Handelsbanken
* Klepierre Cut to Underweight at JPMorgan; PT 21 euros
* Olvi Cut to Hold at Nordea
* Orange Belgium Cut to Hold at HSBC; PT 21 euros
* Polymetal Cut to Hold at Berenberg; PT 300 pence
* Stroeer Cut to Hold at HSBC; PT 70 euros
* Tele2 Cut to Hold at Handelsbanken
* TotalEnergies Cut to Hold at Jefferies; PT 50 euros
* UPS Cut to Peerperform at Wolfe
>>> Initiation
* America Movil ADRs Reinstated Buy at HSBC; PT $26
* Credito Emiliano Rated New Underperform at Jefferies
* Fidelity National Rated New Overweight at Stephens; PT $125
* Fiserv Rated New Equal-Weight at Stephens; PT $110
* Global Payments Rated New Overweight at Stephens; PT $170
* PayPal Rated New Equal-Weight at Stephens; PT $135
* Pearson Resumed Buy at Citi; PT 1000 pence
* Pop. Sondrio Rated New Hold at Jefferies; PT 3.80 euros
* Tim Brasil ADRs Rated New Buy at HSBC; PT $19
>>> Call
* IWG Has Multiple Ways to Create Value, Peel Hunt Raises to Buy
* Klepierre Downgraded at JPMorgan on Inflation, Debt Headwinds
* Pearson a Buy at Citi With Street-High PT on Conviction in Value
* Repsol Raised, TotalEnergies Cut at Jefferies Ahead of 1Q