>>> Europe : Brokers Upgrades & Downgrades - 5th of December 2024 V3(++)

>>> Up
* ACS Raised to Neutral at BofA (+)
* Anglogold Raised to Outperform at RBC; PT $31
* Argenx PT Raised to 740 euros from 620 euros at JPMorgan
* BASF Raised to Buy at Baader Helvea; PT 55 euros
* BHP ADRs PT Raised to $68 from $60 at Argus
* BMW Raised to Buy at UBS
* Ceres Power Raised to Sector Perform at RBC; PT 180 pence
* DiscoverIE Raised to Hold at Shore Capital (+)
* EasyJet PT Raised to 900 pence from 850 pence at Peel Hunt (+)
* Enel Raised to Buy at BofA (+)
* Ferragamo Raised to Neutral at UBS (++)
* Ferrovial Raised to Buy at BofA (+)
* Hochtief Raised to Buy at BofA (+)
* Nyab Raised to Buy at Inderes; PT 6.80 kronor
* Pandora Raised to Overweight at JPMorgan; PT 1,300 kroner
* Porsche Raised to Overweight at Barclays; PT 70 euros
*

>>> Down
* Aena Cut to Neutral at BofA (+)
* Azimut Cut to Hold at Deutsche Bank (+)
* Covivio Cut to Underweight at Morgan Stanley; PT 55 euros
* Credito Emiliano Cut to Hold at Jefferies; PT 11.50 euros
* Currys Cut to Hold at Deutsche Bank (+)
* Endesa Cut to Neutral at BofA (+)
* EssilorLuxottica Cut to Neutral at UBS (++)
* Forvia Cut to Neutral at UBS; PT 9 euros (++)
* Gestamp Cut to Equal-Weight at Barclays; PT 3 euros
* Gestamp Cut to Sell at UBS; PT 2 euros (++)
* Givaudan Cut to Sell at Van Lanschot Kempen (+)
* Hugo Boss Raised to Buy at UBS; PT 49 euros (++)
* Hypoport Cut to Neutral at BNPP Exane (+)
* Mercedes Cut to Underweight at Barclays; PT 48.50 euros
* Mercedes Cut to Neutral at UBS
* Nel Cut to Sector Perform at RBC; PT 4 kroner
* NN Group Cut to Hold at Kepler Cheuvreux
* Porsche Cut to Neutral at UBS
* Staige One Cut to Speculative Buy at SMC Research; PT 5.20 euros (+)
* Symrise Cut to Hold at Kepler Cheuvreux (+)
* Terna Cut to Underperform at BofA (+)
* TomTom Cut to Sell at Van Lanschot Kempen; PT 4.50 euros (++)
* Valeo Cut to Neutral at UBS; PT 8 euros (++)
* VW PT Cut to 75 euros from 84 euros at UBS (++)

>>> Initiation
* ASM Intl ADRs Rated New Neutral at BNPP Exane; PT $561 (++)
* ASML ADRs Rated New Outperform at BNPP Exane; PT $858 (++)
* Beijer REF Rated New Neutral at Citi; PT 174 kronor
* Coca-Cola HBC Rated New Outperform at Bernstein
* Infineon ADRs Rated New Outperform at BNPP Exane; PT $40 (++)
* STMicro ADRs Reinstated Neutral at BNPP Exane; PT $28 (++)
* Straumann Rated New Buy at Equita; PT 140 Swiss francs (+)

>>> Call
* Ashtead Group Upgraded at RBC on More Positive US Economy View
* Beijer Ref Valuation Captures Growth Outlook, Citi Rates Neutral
* BofA Analysts See Cheap Europe Utilities Outperformance in 2025 (++)
* Ceres Power Raised at RBC, Says More Insulated From Headwinds (+)
* Covivio Cut to Underweight at Morgan Stanley, Set to Lag in 2025
* Citi Still Positive on UK Builders Long-Term, Persimmon Upgraded
* Currys Falls After Deutsche Bank Cuts on Exposure to Labor Costs (++)
* Grifols Price Target Slashed at JPMorgan; High Leverage Remains (+)
* JPMorgan Traders’ Math Places S&P 500 Near 6,300 by Month’s End
* Near-Term Risks Remain in Medtech Sector, Sonova Cut at JPMorgan
* Hugo Boss, Ferragamo Lead Luxury Gains After UBS Upgrades (++)