>>> Europe : Brokers Upgrades & Downgrades - 4th of March 2024

>>> Up
* BP ADRs Raised to Buy at Jefferies; PT $42.30
* Castellum Raised to Buy at Arctic Securities; PT 150 kronor
* Fresnillo Raised to Equal-Weight at Morgan Stanley; PT 480 pence
* GSK Raised to Buy at Guggenheim; PT 2,031 pence
* Heineken Raised to Overweight at Barclays; PT 101 euros
* Munich Re Raised to Outperform at Oddo BHF; PT 480 euros
* Kamux Raised to Buy at Inderes; PT 6.40 euros
* Nordex Raised to Outperform at Grupo Santander; PT 16 euros
* OVH Raised to Buy at Stifel; PT 11.50 euros

>>> Down
* Apple Cut From Goldman’s Conviction List as Shares Underperform
* Endesa Cut to Neutral at Goldman; PT 19 euros
* Ferrari Cut to Sell at Citi on Valuation Following Strong Rally
* Fortum Cut to Hold at Berenberg
* Jardine Matheson Cut to Neutral at JPMorgan; PT $41
* Loihde Cut to Reduce at Inderes; PT 13 euros
* Ocado PT Cut to 375 pence from 390 pence at Morgan Stanley
* Suess MicroTec Cut to Hold at Stifel; PT 40 euros

>>> Initiation
* Camurus Rated New Buy at SEB Equities; PT 650 kronor
* Holmen Reinstated Neutral at Citi; PT 440 kronor
* Nvidia Rated New Buy at President Capital Management; PT $970
* Sensirion Rated New Buy at Berenberg; PT 81 Swiss francs
* TP ICAP Rated New Buy at Investec; PT 256 pence

>>> Call
* Apple Cut From Goldman’s Conviction List as Shares Underperform
* BP Raised at Jefferies; Sees Stock Close Value Gap Versus Peers
* BT Upgraded at Berenberg as Investment Case Becomes Clearer
* IMCD Outlook More Subdued, Downgraded to Hold at Jefferies
* Ferrari Cut to Sell at Citi on Valuation Following Strong Rally