>>> Europe : Brokers Upgrades & Downgrades - 31st of January 2025 V2(+)

>>> Up
* 3i PT Raised to 4,410 pence from 4,285 pence at Deutsche Bank (+)
* ALK-Abello Raised to Buy at Jefferies; PT 185 kroner
* Apple PT Raised to $290 from $250 at TD Cowen (+)
* BBVA Raised to Buy at HSBC; PT 13 euros
* Deutsche Telekom Raised to Buy at Intesa Sanpaolo; PT 38 euros (+)
* Fevertree Drinks Raised to Neutral at Goldman; PT 850 pence (+)
* IBM PT Raised to $290 from $260 at Argus
* Next Raised to Buy at UBS (+)
* Nokia Raised to Reduce at Inderes; PT 4.20 euros
* Nokia Raised to Buy at ABG; PT 5.20 euros (+)
* Pennon Raised to Hold at Deutsche Bank; PT 570 pence
* RVRC Holding Raised to Buy at SEB Equities; PT 60 kronor
* Sanofi Raised to Hold at Deutsche Bank
* Wavestone Raised to Buy at Kepler Cheuvreux (+)
* Yara Raised to Hold at Norne Securities; PT 350 kroner

>>> Down
* Admiral Cut to Reduce at Peel Hunt; PT 2,300 pence
* Allfunds Cut to Neutral at UBS (+)
* Carrefour Cut to Hold at HSBC; PT 14 euros
* Dowlais Cut to Hold at Peel Hunt; PT 85 pence
* Epiroc Cut to Hold at SEB Equities; PT 230 kronor
* Eutelsat PT Cut to 1.60 euros from 2.80 euros at Deutsche Bank (+)
* Kongsberg Cut to Hold at SEB Equities; PT 1,335 kroner
* Norconsult Norge Cut to Hold at SEB Equities; PT 46 kroner
* Nordea Bank Cut to Hold at SEB Equities; PT 12.63 euros
* Nordea Bank Cut to Accumulate at Inderes; PT 12.50 euros
* Sainsbury Cut to Hold at HSBC; PT 285 pence
* Serge Ferrari SAS Raised to Outperform at Oddo BHF; PT 7 euros (+)
* Tullow Cut to Hold at Panmure Liberum
* Umicore Cut to Hold at Kepler Cheuvreux (+)
* UPS Cut to Neutral at Baird; PT $130

>>> Initiation
* Azimut Rated New Neutral at Autonomous
* Bakkavor Rated New Outperform at RBC; PT 170 pence
* GE Vernova Rated New Equal-Weight at Oxcap; PT $362
* Greencore Group Rated New Outperform at RBC; PT 240 pence
* Spirax Rated New Overweight at Oxcap; PT 10,200 pence
* Volex Rated New Buy at Jefferies; PT 350 pence

>>> Call
* Next Raised to Buy at UBS as Retailer Seen as ‘Safe Haven’