>>> Europe : Brokers Upgrades & Downgrades - 2nd of July 2024 V2(+)

>>> Up
* Ibstock Raised to Outperform at Davy (+)
* NN Group Raised to Overweight at JPMorgan; PT 62 euros
* Siemens Energy Raised to Buy at Redburn; PT 41.99 euros
* SIF Raised to Outperform at Oddo BHF; PT 17.25 euros
* Teleperformance Raised to Overweight at Morgan Stanley
* TGS Raised to Overweight at Barclays; PT 245 kroner

>>> Down
* ASR Nederland Cut to Neutral at JPMorgan; PT 52 euros
* Aumann Cut to Hold at Berenberg; PT 17 euros
* Cargotec Cut to Sell at Inderes; PT 39 euros
* Kuehne + Nagel Raised to Equal-Weight at Barclays

>>> Initiation
* Belimo Cut to Equal-Weight at Morgan Stanley
* Clariant Rated New Buy at Berenberg; PT 16.80 Swiss francs
* Engie Rated New Buy at Stifel; PT 18.20 euros
* Kalmar Rated New Buy at SEB Equities; PT 34 euros
* Kalmar Rated New Buy at Nordea; PT 33 euros
* Novo ADRs Rated New Underperform at Jefferies; PT $82.50
* PureTech Health Reinstated Buy at Jefferies; PT 455 pence

>>> Call
* RBC’s Calvasina ‘Nervously’ Raises S&P 500 Price Target to 5,700
* Clariant’s Stronger Margin Outlook Earns Buy Rating at Berenberg
* Teleperformance Upgraded at Morgan Stanley, AI Risks Overstated
* TSMC Capex Estimates for 2024-25 Boosted at UBS on AI Needs
* Hedge Funds Net Sell Global Stocks Fastest in Two Years: Goldman
* Hedge Funds Sold TMT Stocks by Most on Record, Goldman Says
* NN Group Upgraded at JPMorgan, While ASR Nederland Rating Cut (+)