>>> Europe : Brokers Upgrades & Downgrades - 4th of February 2025 V2(+)

>>> Up
* Avanza Raised to Neutral at JPMorgan; PT 279 kronor
* AXA PT Raised to 46 euros from 41.50 euros at Berenberg
* Biophytis SA Raised to Buy at Invest Securities SA (+)
* Dunelm Raised to Outperform at RBC; PT 1,175 pence
* Melia Hotels Raised to Buy at JB Capital Markets; PT 9.50 euros
* Novartis Raised to Buy at Deutsche Bank; PT 110 Swiss francs
* Palantir Raised to Equal-Weight at Morgan Stanley; PT $95
* Pennon Raised to Outperform at RBC; PT 600 pence
* Syensqo Raised to Overweight at Morgan Stanley; PT 89 euros

>>> Down
* Autoliv GDRs Cut to Hold at Pareto Securities; PT 1,150 kronor
* Autoliv Cut to Hold at HSBC; PT $100
* Bavarian Nordic Cut to Hold at Nordea
* Fevertree Drinks Cut to Sell at Redburn; PT 593 pence
* Kalmar Cut to Hold at SEB Equities; PT 35 euros
* Lagercrantz Cut to Market Perform at Handelsbanken
* Orion Cut to Hold at Nordea
* QT Group Cut to Accumulate at Inderes; PT 90 euros
* Reckitt Cut to Equal-Weight at Barclays; PT 5,360 pence
* SSP Cut to Sector Perform at RBC; PT 200 pence
* Vaisala Cut to Accumulate at Evli Bank; PT 56 euros (+)
* Vitrolife Cut to Underperform at Handelsbanken; PT 255 kronor
* Vontobel Cut to Neutral at Oddo BHF; PT 66 Swiss francs

>>> Initiation
* Avanza Rated New Buy at Pareto Securities; PT 380 kronor
* Mycronic Rated New Buy at SEB Equities; PT 520 kronor
* Nordnet Rated New Hold at Pareto Securities; PT 265 kronor
* NOVAL GA Rated New Buy at Alpha Finance; PT 3.30 euros
* Wiit Rated New Buy at Berenberg; PT 23 euros

>>> Call
* Dunelm Upgraded at RBC to Outperform on ‘Undemanding’ Valuation