>>> Up
* Ageas Raised to Overweight at JPMorgan; PT 65 euros
* ASR Nederland Raised to Overweight at JPMorgan; PT 58 euros
* BE Semiconductor Raised to Buy at BofA (+)
* Besqab Raised to Buy at Kepler Cheuvreux; PT 30 kronor
* Coca-Cola HBC Raised to Outperform at BNPP Exane; PT 3,400 pence (+)
* Epiroc Raised to Overweight at Barclays; PT 205 kronor
* Fresenius Medical Care Raised to Buy at HSBC; PT 48 euros
* Helvetia Raised to Buy at Bank Vontobel; PT 180 Swiss francs (+)
* Hugo Boss Raised to Buy at Baader Helvea; PT 45 euros
* IAG PT Raised to 500 pence from 340 pence at JPMorgan
* Merck & Co Raised to Buy at HSBC; PT $130
* Nel Raised to Hold at Nordea; PT 1.40 kroner
* NKT Raised to Buy at Jyske Bank; PT 615 kroner (+)
* Pernod Ricard Raised to Hold at Deutsche Bank (+)
* Schindler Raised to Overweight at Barclays; PT 258 Swiss francs
* Spirax Raised to Overweight at Barclays; PT 8,350 pence
* Zurich Airport Raised to Buy at UBS (++)
>>> Down
>>> Down
* Andritz Cut to Underweight at Barclays; PT 40 euros
* Ariston Cut to Equal-Weight at Barclays; PT 3.81 euros
* Bunzl Cut to Hold at HSBC; PT 3,625 pence
* Campari Cut to Hold at Deutsche Bank (+)
* Carlsberg Cut to Neutral at BNPP Exane; PT 795 kroner
* Carlsberg Cut to Sell at Nordea; PT 620 kroner
* Dekuple Cut to Add at IDMidcaps; PT 37 euros (+)
* Hapag-Lloyd PT Cut to 80 euros from 85 euros at JPMorgan
* Heineken Cut to Hold at Deutsche Bank (+)
* Helvetia Cut to Neutral at JPMorgan; PT 170 Swiss francs
* ITM Power PT Cut to 24 pence from 60 pence at Goodbody (+)
* Maersk PT Cut to 8,450 kroner from 9,000 kroner at JPMorgan
* NN Group Cut to Neutral at JPMorgan; PT 50 euros
* Novartis Cut to Reduce at HSBC; PT 82 Swiss francs
* Novartis ADRs Cut to Reduce at HSBC; PT $95 (++)
* Remy Cointreau Cut to Sell at Deutsche Bank (+)
* Ringkjoebing Landbobank Cut to Sell at ABG; PT 1,000 kroner
* Ringkjoebing Landbobank Cut to Sell at ABG; PT 1,000 kroner
* Signify Cut to Underweight at Barclays; PT 18 euros
* St James's Place Cut to Reduce at HSBC; PT 790 pence
* Swiss Life Cut to Reduce at HSBC; PT 640 Swiss francs
* Swiss Life Cut to Underweight at JPMorgan; PT 670 Swiss francs
* YPF ADRs Cut to Neutral at UBS
>>> Initiation
>>> Initiation
* Abivax ADRs Rated New Market Outperform at JMP; PT $33
* Accelleron Rated New Hold at Jefferies; PT 49 Swiss francs
* Applied Nutrition Rated New Buy at Deutsche Bank; PT 180 pence (+)
* Bossard Rated New Hold at Jefferies; PT 203 Swiss francs
* Burckhardt Rated New Buy at Jefferies; PT 804 Swiss francs
* CompuGroup Reinstated Sell at Hauck & Aufhaeuser; PT 10 euros (+)
* Essentra Rated New Outperform at Davy; PT 170 pence (+)
* Georg Fischer Rated New Buy at Jefferies; PT 82 Swiss francs
* Planisware Rated New Outperform at Oddo BHF; PT 30 euros
* Puig Rated New Buy at Bestinver; PT 23 euros
* SFS Rated New Buy at Jefferies; PT 154 Swiss francs
* Spar Nord Cut to Hold at ABG; PT 140 kroner
* Sulzer Rated New Buy at Jefferies; PT 156 Swiss francs
* Thule Rated New Buy at DNB Markets; PT 445 kronor
>>> Call
* Thule Rated New Buy at DNB Markets; PT 445 kronor
>>> Call
* BE Semi Raised to Buy at BofA on Potential Demand Recovery (+)
* Georg Fischer, Sulzer Top Swiss Industrial Picks at Jefferies
* Helvetia Seen Higher as Vontobel Raises to Buy on New Leadership (+)
* IAG Among Top Picks in Mixed 2025 for Transport Sector: JPMorgan (+)
* JPMorgan Sees Further Positive Signs for Europe Insurers in 2025
* Maersk Cut, IAG Among Morgan Stanley’s Favored Transport Names
* Maersk Cut, IAG Among Morgan Stanley’s Favored Transport Names
* Merck Raised to Buy at HSBC on Valuation Potential, Track Record (++)
* Vestas Wind Drops as RBC Says CFO Exit Timing Seems ‘Abrupt’ (++)
* Victrex Upgraded at Jefferies on Attractive Recovery Opportunity