>>> Europe : Brokers Upgrades & Downgrades - 16th of April 2025 V3(++)

>>> Up
* Aedifica Raised to Neutral at BNPP Exane; PT 60 euros (++)
* Assystem Raised to Neutral at Invest Securities SA; PT 32 euros (+)
* Big Yellow Group Raised to Neutral at BNPP Exane; PT 980 pence (++)
* Caterpillar Raised to Equal-Weight at Morgan Stanley; PT $283
* ConvaTec Raised to Neutral at BofA (+)
* Delivery Hero Raised to Neutral at Citi; PT 23.50 euros
* DiscoverIE Raised to Buy at Shore Capital (++)
* Ericsson Raised to Hold at Kepler Cheuvreux (+)
* First Quantum Minerals Raised to Buy at Canaccord; PT C$23
* Fortnox Raised to Equal-Weight at Morgan Stanley
* Greatland Gold Raised to Buy at Canaccord; PT 25 pence (+)
* Great Portland Raised to Neutral at BNPP Exane; PT 280 pence (++)
* Hammerson Raised to Outperform at BNPP Exane; PT 290 pence (++)
* Hollywood Bowl Raised to Buy at Peel Hunt
* Lockheed Raised to Overweight at Morgan Stanley; PT $575
* Lundin Mining Raised to Buy at Canaccord; PT C$14
* Maersk Raised to Neutral at Citi; PT 11,093 kroner
* Momentum Group Raised to Buy at Danske Bank Markets (++)
* Theon International PT Raised to 40 euros from 37 euros at UBS (++)
* TomTom Raised to Buy at AlphaValue/Baader
* Verbund Raised to Neutral at Oddo BHF; PT 64 euros
* VGP Raised to Neutral at BNPP Exane; PT 80 euros (++)

>>> Down
* Autoneum Cut to Hold at Octavian; PT 125 Swiss francs
* Catana Cut to Hold at Kepler Cheuvreux (+)
* Detection Tech Oy Cut to Accumulate at Evli Bank; PT 14 euros (++)
* Deutsche Boerse Cut to Hold at M.M. Warburg; PT 281 euros
* DuPont de Nemours PT Cut to $68 from $85 at Argus
* Fugro Cut to Accumulate at KBC Securities; PT 15 euros (+)
* Inmobiliaria Colonial Cut to Neutral at BNPP Exane (++)
* Lime Technologies Cut to Sell at DNB Markets; PT 355 kronor
* LVMH Cut to Hold at TD Cowen; PT 500 euros
* Next 15 Group PLC PT Cut to 382 pence at Panmure Liberum (+)
* Nvidia Cut to Hold at Aletheia Capital
* Paccar Cut to Equal-Weight at Morgan Stanley; PT $96
* Straumann PT Cut to 95 Swiss francs from 108 Swiss francs at UBS (++)
* Symrise Cut to Sell at Van Lanschot Kempen; PT 90 euros
* United Airlines Cut to Market Perform at Raymond James
* US Steel Cut to Neutral at JPMorgan; PT $38 (+)
* Vaisala Raised to Buy at Evli Bank; PT 52 euros (+)
* Veolia Cut to Underperform at Jefferies; PT 25 euros

>>> Initiation
* First Quantum Minerals Reinstated Outperform at BMO; PT C$23
* GSK ADRs Rated New Neutral at BNPP Exane; PT $35.25
* Knaus Tabbert Cut to Reduce at AlphaValue/Baader (+)
* Metsa Board Rated New Hold at Kepler Cheuvreux; PT 3.50 euros (+)
* Nordex Rated New Buy at Berenberg; PT 19 euros
* Novo ADRs Rated New Underperform at BNPP Exane; PT $61
* Sanofi ADRs Rated New Outperform at BNPP Exane; PT $65
* SFC Energy Rated New Buy at Deutsche Bank; PT 33 euros (+)
* Spie Rated New Buy at William O'Neil (+)

>>> Call
* Barclays Strategists Say Stagnation Is Priced in European Stocks (+)
* Berenberg Trims Brenntag Price Target Amid Volume Risks (+)
* LVMH Cut, Given Street-Low Target at TD Cowen After Weak Results
* Maersk’s Valuation ‘Unusually Attractive,’ Citi Upgrades
* Nordex Issues Starting to Clear, Rated New Buy at Berenberg (+)
* Novo Nordisk Price Target Cut at Barclays on Wegovy Outlook (+)
* Shell Seen as Resilient, ‘Stand-Out’ Oil Major by Bernstein
* Straumann Shares Drop After UBS Cuts Price Target to Street-Low (++)
* Veolia Downgraded at Jefferies on Challenged Earnings Outlook