>>> Europe : Brokers Upgrades & Downgrades - 19th of May 2025

>>> Up
* AO World Raised to Buy at Peel Hunt; PT 137 pence
* Capricorn Energy Raised to Buy at Jefferies; PT 290 pence
* RENK Group PT Raised to 72 euros from 54.50 euros at Berenberg
* Unibail Raised to Equal-Weight at Morgan Stanley; PT 85 euros

>>> Down
* Acciona Cut to Underperform at RBC; PT 115 euros
* BP ADRs Cut to Hold at Jefferies; PT $29
* BP Cut to Hold at Jefferies; PT 390 pence
* Cyfrowy Cut to Hold at Erste Group; PT 19.20 zloty
* Euronext Cut to Market Perform at KBW; PT 155 euros
* Euronext Cut to Neutral at JPMorgan; PT 143 euros
* GEA Group Cut to Neutral at Citi; PT 59 euros
* Ithaca Energy Cut to Hold at Jefferies; PT 130 pence
* Jadestone Energy Cut to Hold at Jefferies; PT 20 pence
* Legal & General Cut to Hold at HSBC; PT 255 pence
* Mediobanca Cut to Equal-Weight at Morgan Stanley; PT 22 euros
* Metrovacesa Cut to Neutral at JB Capital Markets; PT 11.75 euros
* OCI Cut to Neutral at Redburn; PT 9 euros
* Siemens Healthineers Cut to Add at AlphaValue/Baader
* Tokmanni Cut to Reduce at Inderes; PT 11.50 euros
* Unipol Cut to Neutral at Mediobanca SpA; PT 17 euros

>>> Initiation
* Next Reinstated Neutral at Grupo Santander; PT 12,540 pence

>>> Call
* Euronext Downgraded at JPMorgan Following Significant Rally
* Jefferies Cuts Oil Price Forecast as ‘Material Oversupply’ Looms
* Morgan Stanley’s Wilson Says Earnings Revisions Now Key for S&P
* Unibail Raised at Morgan Stanley, But ‘Not Out of the Woods Yet’