>>> Europe : Brokers Upgrades & Downgrades - 7th of January 2025 V2(+)

>>> Up
* Adidas Raised to Outperform at Bernstein; PT 300 euros
* Aedifica Raised to Buy at Jefferies; PT 68 euros
* Athens Intnl Airport Raised to Outperform at BNPP Exane
* Autoliv Raised to Outperform at Daiwa; PT $109
* Berkeley Raised to Overweight at Barclays; PT 5,322 pence
* BE Semiconductor Raised to Buy at UBS (+)
* Boliden Raised to Neutral at UBS (+)
* Carvana Raised to Outperform at RBC; PT $280
* Disney Raised to Buy at Redburn; PT $147
* Equinor ADRs Raised to Overweight at Morgan Stanley; PT $30.90
* Equinor Raised to Overweight at Morgan Stanley; PT 340 kroner
* Grand City Properties Raised to Hold at Jefferies; PT 12 euros
* Lufthansa Raised to Buy at Citi; PT 8.50 euros (+)
* Medmix Raised to Buy at Octavian; PT 13.50 Swiss francs
* Mercialys Raised to Buy at Jefferies; PT 13 euros
* Merlin Properties Raised to Buy at Jefferies; PT 12 euros
* Montea Raised to Buy at Jefferies; PT 79 euros
* Novo Raised to Market Perform at Bernstein; PT 600 kroner
* Partners Group Raised to Buy at UBS (+)
* Shell ADRs Raised to Overweight at Morgan Stanley; PT $79.80
* Shurgard Raised to Hold at Jefferies; PT 37 euros
* SIG Group Raised to Neutral at BNPP Exane (+)
* Sotkamo Silver Raised to Accumulate at Inderes; PT 1.40 kronor
* Tapestry PT Raised to $75 from $52 at Argus
* Tesla Raised to Buy at New Street Research; PT $460
* Unibail Raised to Buy at Jefferies; PT 92 euros
* VGP Raised to Buy at Jefferies; PT 91 euros
* Vonovia Raised to Hold at Jefferies; PT 29 euros
* WDP Raised to Hold at Jefferies; PT 20.50 euros

>>> Down
* ADP Cut to Underperform at Grupo Santander; PT 118 euros (+)
* AIB Group Cut to Hold at Deutsche Bank (+)
* Air France-KLM Cut to Neutral at Citi; PT 9.50 euros (+)
* AJ Bell Cut to Sell at Citi; PT 390 pence
* Alstom Cut to Sell at Goldman; PT 18.50 euros
* Eni ADRs Cut to Equal-Weight at Morgan Stanley; PT $31.60
* Eni Cut to Equal-Weight at Morgan Stanley; PT 15 euros
* Fortnox Cut to Hold at Jefferies; PT 80 kronor
* Fraport Cut to Underperform at Grupo Santander; PT 60 euros (+)
* Inari Medical Cut to Hold at Canaccord; PT $80
* Inari Medical Cut to Neutral at Baird; PT $80
* Kitron Cut to Hold at Norne Securities; PT 39 kroner
* Mondi Cut to Neutral at BNPP Exane
* Pennon Cut to Sell at Deutsche Bank (+)
* NX Filtration Cut to Hold at Berenberg
* Raspberry PI Cut to Reduce at HSBC; PT 500 pence
* Repsol Cut to Underweight at Morgan Stanley; PT 11.70 euros
* Sika Cut to Underweight at Barclays; PT 215 Swiss francs
* Taylor Wimpey Cut to Equal-Weight at Barclays; PT 142 pence
* TotalEnergies ADRs Cut to Equal-Weight at Morgan Stanley
* Vivendi Cut to Neutral at Oddo BHF; PT 2.50 euros

>>> Initiation
* BMW Rated New Hold at Intesa Sanpaolo; PT 79 euros (+)
* Brazil Potash Rated New Buy at Roth Capital Partners; PT $17
* British Land Rated New Buy at Kepler Cheuvreux; PT 440 pence (+)
* Derwent London Rated New Hold at Kepler Cheuvreux (+)
* Ilika Rated New Corporate at Cavendish; PT 83 pence (+)
* JD Sports Reinstated Buy at BofA (+)
* Land Sec. Rated New Hold at Kepler Cheuvreux; PT 640 pence (+)
* LondonMetric Rated New Buy at Kepler Cheuvreux; PT 240 pence
* Mercedes Rated New Hold at Intesa Sanpaolo; PT 68.10 euros (+)
* Mitie Reinstated Buy at Investec; PT 155 pence (+)
* Moreld Rated New Buy at Fearnley; PT 21 kroner (+)
* On Holding Reinstated Buy at BofA (+)
* Quantum Computing Rated New Add at Great Wall Securities
* Sobi Reinstated Overweight at Barclays; PT 380 kronor
* Tritax Big Box Rated New Buy at Kepler Cheuvreux; PT 170 pence (+)
* XPS Pensions Rated New Outperform at Davy; PT 420 pence (+)

>>> Call
* AJ Bell Cut at Citi, Upside Catalyst Watch Opened on 3i Group
* Boliden Raised to Neutral at UBS on ‘Turnaround Story’ (+)
* Citi’s Montagu Says Positioning Gap in US, Europe Stocks Narrows (+)
* *DEUTSCHE BANK STRATEGISTS RAISE EUROPEAN STOCKS TO OVERWEIGHT (+)
* Goldman’s Rubner Sees Short-Term Buying Window in US Stocks
* Jefferies Expects Europe Real Estate Sector to ‘Bounce Back Big’
* Morgan Stanley Lifts European Energy Sector View to In-Line
* Novo Nordisk Raised at Bernstein on ‘More Compelling’ Valuation (+)