>>> Europe : Brokers Upgrades & Downgrades - 14th of August 2025

>>> Up
* DiaSorin Raised to Outperform at RBC
* FedEx Raised to Buy at DBS Bank; PT $275
* Kingspan Raised to Buy at Citi; PT 89 euros
* Martela Raised to Reduce at Inderes; PT 85 euro cents
* PVA TePla Raised to Buy at Jefferies; PT 28 euros

>>> Down
* Balfour Beatty Cut to Hold at Investec; PT 600 pence
* Home Depot Cut to Hold at Punto Casa de Bolsa; PT $415
* Li Auto ADRs Cut to Neutral at JPMorgan; PT $28
* Nyab Cut to Accumulate at Inderes; PT 8.25 kronor
* Odfjell Cut to Hold at Arctic Securities; PT 125 kroner
* Spie Cut to Equal-Weight at Morgan Stanley; PT 52.50 euros

>>> Initiation
* ArcelorMittal ADRs Rated New Equal-Weight at Wells Fargo; PT $33
* LondonMetric Rated New Outperform at BNPP Exane; PT 230 pence
* New Fortress Energy Cut to Hold at Johnson Rice; PT $4
* Nucor Rated New Equal-Weight at Wells Fargo; PT $145
* PKO Reinstated Buy at William O'Neil
* Regeneron Reinstated Buy at Rothschild & Co Redburn; PT $890
* Solstad Maritime Holding Rated New Buy at Fearnley; PT 30 kroner
* Vestas ADRs Rated New Neutral at BNPP Exane; PT $6.80

>>> Call
* European Banks’ Shares Have Further Upside, Targets Boosted: RBC
--> Among PT changes:
  • Deutsche Bank increased to €34 from €29, the highest among analysts tracked by Bloomberg
  • UBS increased to CHF34 from CHF31.5
  • BNP Paribas boosted to €95 from €86
  • Societe Generale boosted to €62 from €55