>>> Europe : Brokers Upgrades & Downgrades - 15th of May 2025 V2(+)

>>> Up
* Burberry Raised to Buy at UBS (+)
* Imperial Brands PT Raised to 3,900 pence at Panmure Liberum (+)
* Lagercrantz Raised to Buy at Nordea; PT 300 kronor
* PBR US Raised to Buy at Jefferies; PT $15.30
* Scout24 PT Raised to 141 euros from 114 euros at JPMorgan

>>> Down
* ASR Nederland Cut to Market Perform at KBW; PT 55 euros
* Brenntag Cut to Sell at DZ Bank; PT 58 euros (+)
* Burberry Cut to Hold at Deutsche Bank; PT 1,000 pence
* Coloplast Cut to Hold at HSBC; PT 670 kroner
* E.On Cut to Neutral at Oddo BHF; PT 16 euros (+)
* Forbo Cut to Reduce at Kepler Cheuvreux (+)
* Monte Paschi Cut to Market Perform at KBW; PT 8.40 euros
* Murray Cut to Hold at Stifel (+)
* NN Group Cut to Market Perform at KBW; PT 55 euros
* Orsted Cut to Hold at Berenberg; PT 250 kroner
* PVA TePla Cut to Hold at Jefferies; PT 19 euros
* UniCredit Cut to Market Perform at KBW; PT 57.80 euros
* Victoria PT Cut to 95 pence from 105 pence at Panmure Liberum (+)

>>> Initiation
* Amadeus Fire Rated New Buy at Kepler Cheuvreux; PT 100 euros (+)
* GB Group Rated New Buy at Berenberg; PT 340 pence
* Nvidia Reinstated Buy at William O'Neil
* On Holding Reinstated Buy at William O'Neil
* Property Franchise Rated New Buy at Berenberg; PT 593 pence
* Rheinmetall ADRs Rated New Buy at President Capital Management
* Safran Reinstated Buy at William O'Neil
* Schneider Electric Rated New Outperform at CICC; PT 236 euros
* SBDS LN Rated New Corporate at Zeus Capital (+)

>>> Call
* Burberry Raised to Buy at UBS as Strategy to Lift Earnings