>>> Europe : Brokers Upgrades & Downgrades - 19th of February 2025 V2(+)

>>> Up
* Addnode Group AB Raised to Buy at ABG; PT 140 kronor
* Antofagasta Raised to Overweight at JPMorgan; PT 2,400 pence
* Aramis Raised to Outperform at BNPP Exane (+)
* BBVA Raised to Buy by AlphaValue
* De Nora Raised to Buy at Kepler Cheuvreux (+)
* DNB Bank Raised to Buy at BofA (+)
* Fincantieri Raised to Buy at Intesa Sanpaolo; PT 10.20 euros (+)
* Rheinmetall PT Raised to 1,098 euros at Kepler Cheuvreux (+)
* Sabadell Raised to Buy by AlphaValue
* Somec Raised to Buy at Kepler Cheuvreux (+)
* STMicro Raised to Buy at Jefferies; PT 34 euros
* Zehnder Raised to Buy at Kepler Cheuvreux (+)

>>> Down
* Banco BPM Cut to Neutral at BofA (+)
* Bouvet Cut to Hold at Arctic Securities; PT 76 kroner
* Bouvet Cut to Hold at Pareto Securities; PT 78 kroner
* Bouvet Cut to Hold at Kepler Cheuvreux (+)
* Evonik Cut to Hold at Kepler Cheuvreux (+)
* Heidelberg Materials Cut to Equal-Weight at Morgan Stanley
* Hermes Cut to Sell at DZ Bank; PT 2,347 euros
* Holcim Cut to Equal-Weight at Morgan Stanley
* Julius Baer Cut to Hold at Jefferies; PT 58 Swiss francs
* Multiconsult Cut to Hold at SEB Equities; PT 215 kroner (+)
* Neinor Cut to Hold at Bestinver; PT 16.10 euros
* Qiagen Cut to Neutral at Baird; PT 40.15 euros
* Societe Fonciere Lyonnaise Cut to Underperform at Oddo BHF
* Stendorren Fastigheter Cut to Hold at Pareto Securities
* Swedbank Cut to Underperform at BofA (+)
* Tate & Lyle Cut to Hold at Berenberg; PT 600 pence
* Trainline Cut to Neutral at JPMorgan; PT 400 pence
* Vaisala Cut to Reduce at Inderes; PT 54 euros
* Wacker Chemie Cut to Add at Baader Helvea; PT 82 euros
* Wood Cut to Reduce at Kepler Cheuvreux; PT 20 pence (+)
* Zumtobel Cut to Hold at Kepler Cheuvreux (+)

>>> Initiation
* Adecco Rated New Buy at Kepler Cheuvreux; PT 29 Swiss francs (+)
* Asmodee Rated New Neutral at BNPP Exane; PT 110 kronor (+)
* Frequentis Rated New Buy at Erste Group; PT 37 euros
* GE Vernova Rated New Outperform at CICC; PT $423
* Randstad Rated New Buy at Kepler Cheuvreux; PT 50 euros (+)
* Reply Rated New Hold at Deutsche Bank; PT 180 euros

>>> Call
* Barclays’ Cau Says European Equities Are at Fair Value (+)
* DNB Bank Raised to Buy at BofA; Swedbank cut to Underperform (+)
* Equity Flow Signals for Europe Look Positive: Citi Strategists (+)
* Nexans Reports Strong Finish and Decent Guidance, Says Jefferies (+)
* Ukraine-Driven Gains Overdone for Some Stocks: Morgan Stanley (+)