>>> Europe : Brokers Upgrades & Downgrades - 15th of August 2025

>>> Up
* Autostore Raised to Buy at Pareto Securities; PT 12 kroner
* BAT PT Raised to 3,000 pence from 2,650 pence at Morgan Stanley
* Do & Co PT Raised to 250 euros from 225 euros at Berenberg
* Deutsche PBB Raised to Add at AlphaValue/Baader
* Endomines Finland Raised to Reduce at Inderes; PT 25.50 euros
* GE Aerospace PT Raised to $343 from $254 at Bernstein
* Netcompany Raised to Buy at Nordea; PT 305 kroner
* Talanx PT Raised to 138 euros from 125 euros at Berenberg

>>> Down
* Bioretec Cut to Accumulate at Inderes; PT 1.70 euros
* Cava Group PT Cut to $120 from $148 at CFRA
* Cisco Cut to Hold at HSBC; PT $69
* Eurocash Cut to Neutral at Citi; PT 9.50 zloty
* LeadDesk Cut to Accumulate at Inderes; PT 8.50 euros
* Technip Energies Cut to Neutral at Rothschild & Co Redburn

>>> Initiation


>>> Call
* NKT May Outperform Following Guidance Upgrade, JPMorgan Says