>>> Europe : Brokers Upgrades & Downgrades - 3rd of January 2025 V3(++)

>>> Up
* Argenx ADRs PT Raised to $775 from $665 at Guggenheim (++)
* Boyd Gaming Raised to Buy at Jefferies; PT $92
* Carlyle Group Raised to Outperform at Wolfe; PT $60
* Delek US Holdings Raised to Peerperform at Wolfe
* Devon Raised to Outperform at Wolfe; PT $45
* JPMorgan Raised to Outperform at Wolfe; PT $269
* Knorr-Bremse Raised to Hold at Hauck & Aufhaeuser; PT 65 euros (+)
* Matador Resources Raised to Outperform at Wolfe; PT $72
* Phillips 66 Raised to Outperform at Wolfe; PT $143
* Robert Half Inc Raised to Equal-Weight at Barclays
* Shell ADRs Raised to Outperform at Wolfe
* Steel Dynamics Raised to Outperform at BNPP Exane (+)
* Tesla PT Raised to $404 from $298 at Canaccord (+)
* UBS Raised to Outperform at BNPP Exane (+)

>>> Down
* BNY Mellon Cut to Peerperform at Wolfe
* Commercial Metals Cut to Neutral at BNPP Exane (+)
* Dermapharm Cut to Hold at mwb research AG (++)
* Imperial Oil Cut to Peerperform at Wolfe
* Lazard Inc Cut to Peerperform at Wolfe
* Nexstim Cut to Reduce at Inderes; PT 7 euros (++)
* Outokumpu Cut to Underperform at BNPP Exane (+)
* Sinch PT Cut to 38.30 kronor from 55 kronor at JPMorgan
* Voestalpine Cut to Neutral at BNPP Exane (+)

>>> Initiation
* Vaisala Rated New Buy at SEB Equities; PT 56 euros

>>> Call
* BofA Stock Indicator Is Notch Away From Flashing a ‘Sell’ Signal
* Boyd Gaming, Las Vegas Sands Raised at Jefferies; Red Rock Cut
* Morgan Stanley’s Shalett Sees Big Tech’s Reign in Peril in 2025
* Outokumpu Gets Sole Sell-Equivalent as BNP Flags Steel Headwinds (++)
* UBS Raised to Outperform at BNPP Exane on Buyback Potential (+)