>>> Europe : Brokers Upgrades & Downgrades - 11th of July 2025 V2(+)

>>> Up
* BMW Raised to Equal-Weight at Barclays; PT 82.50 euros
* Canada Goose Raised to Equal-Weight at Barclays; PT C$19.17
* HP Enterprise PT Raised to $25 from $22 at Evercore ISI
* Jupiter Raised to Equal-Weight at Morgan Stanley; PT 130 pence
* Nexans Raised to Buy at Goldman; PT 125 euros
* SGS Raised to Buy at Berenberg
* Texas Instruments Raised to Buy at TD Cowen; PT $245
* Visteon Raised to Buy at Goldman; PT $120
* Visteon Raised to Outperform at Baird; PT $125

>>> Down
* ADDvise Group Cut to Sell at ABG; PT 1.10 kronor
* Ekinops SAS Cut to Reduce at Portzamparc; PT 4.10 euros (+)
* Endesa Cut to Hold at Bestinver; PT 29 euros
* Phillips 66 Cut to Sector Perform at Scotiabank; PT $133
* Repsol Cut to Neutral at JB Capital Markets; PT 14.20 euros (+)
* Shell Cut to Neutral at Grupo Santander; PT 2,900 pence
* TBC Bank Group Cut to Hold at Wood & Company; PT 5,310 pence
* TFF Group Cut to Hold at Kepler Cheuvreux (+)
* Wartsila Cut to Sell at ABG; PT 17 euros
* Wartsila Cut to Hold at Kepler Cheuvreux (+)

>>> Initiation
* Coloplast Rated New Hold at Baptista Research; PT 640 kroner+
* Demant Rated New Hold at Baptista Research; PT 286.20 kroner (+)
* DSV Rated New Underperform at Baptista Research
* Galenica Rated New Neutral at Oddo BHF; PT 92 Swiss francs
* Grifols Rated New Buy at Baptista Research; PT 15.70 euros
* Indra Rated New Underperform at Baptista Research
* OMS Energy Technologies Rated New Buy at Roth Capital Partners
* Puig Rated New Buy at Baptista Research; PT 22.60 euros
* Repsol Rated New Hold at Baptista Research; PT 14 euros
* Sage Group Rated New Outperform at Oddo BHF; PT 1,550 pence

>>> Call
* Amazon Target Raised at Morgan Stanley on Faster Cloud Growth
* Citi’s Manthey Expects Range Bound Markets for Remainder of Year (+)
* Circle Dips After New Neutral Rating at Baird On Volatile Demand
* Nexans Raised to Buy at Goldman on Cable Market Tightness (+)