>>> Europe : Brokers Upgrades & Downgrades - 9th of November 2023

>>> Up
* Adyen Raised to Overweight at Wells Fargo; PT 1,000 euros
* Associated British Foods price target raised to 2,290 GBp at Deutsche Bank
* Commerzbank Raised to Outperform at Oddo BHF; PT 15 euros
* Credit Agricole Raised to Neutral at Mediobanca SpA
* Marks & Spencer Raised to Neutral at JPMorgan; PT 260 pence
* Parker-Hannifin Raised to Buy at Deutsche Bank; PT $506
* Persimmon Raised to Hold at Peel Hunt
* Rational price target raised to EUR 670 from EUR 660 at Deutsche Bank
* Voestalpine Raised to Neutral at JPMorgan; PT 24.80 euros

>>> Down
* Arctic Fish Holding Cut to Hold at Pareto Securities
* Energiekontor Cut to Hold at Stifel; PT 86 euros
* Evotec SE ADRs PT Cut to $21 from $28 at Cowen
* Marimekko Cut to Reduce at Inderes; PT 12.50 euros
* Norma Group price target lowered to EUR 16 from EUR 18 at Deutsche Bank
* Orsted Cut to Reduce at AlphaValue/Baader
* Outokumpu price target lowered to EUR 5 from EUR 5.50 at Deutsche Bank
* PVA TePla Cut to Hold at Quirin Privatbank AG; PT 18.52 euros
* Sampo Cut to Reduce at Inderes; PT 39 euros
* Tecan price target lowered to CHF 372 from CHF 434 at Deutsche Bank
* Tigo Energy Cut to Neutral at Roth MKM; PT $2.50
* Vanquis Cut to Hold at Panmure Gordon; PT 150 pence
* XP Power Cut to Add at Peel Hunt; PT 1,400 pence

>>> Initiation
* AbbVie Reinstated Hold at Deutsche Bank; PT $150
* Amgen Reinstated Hold at Deutsche Bank; PT $240
* Axa Rated New Hold at Intesa Sanpaolo; PT 31 euros
* Bristol Myers Reinstated Hold at Deutsche Bank; PT $55
* Eli Lilly Reinstated Hold at Deutsche Bank; PT $535
* ImmunoGen Rated New Buy at Deutsche Bank; PT $25
* Merck & Co Reinstated Buy at Deutsche Bank; PT $115
* Regeneron Reinstated Hold at Deutsche Bank; PT $800
* Zurich Ins. Rated New Hold at Intesa Sanpaolo

>>> Call
* Freenet Results Solid, Guidance Lift Already in Consensus: Citi