>>> Europe : Brokers Upgrades & Downgrades - 7th of July 2025 V3(++)

>>> Up
* Allianz PT Raised to 431 euros from 419 euros at Berenberg
* Berkeley Raised to Buy at Peel Hunt
* Bilfinger PT Raised to 100 euros at Bankhaus Metzler
* Constellation Brands Raised to Buy at Jefferies; PT $205 (++)
* Generali Raised to Overweight at JPMorgan; PT 37 euros
* Nordea Bank Raised to Hold at Kepler Cheuvreux (+)
* Norwegian Air Raised to Hold at ABG; PT 14 kroner
* Nvidia PT Raised to $190 from $180 at Citi (+)
* ProSieben Raised to Overweight at JPMorgan; PT 11 euros
* Schindler PT Raised to 330 Swiss francs at Bank Vontobel (+)
* T-Mobile Raised to Neutral at Rothschild & Co Redburn

>>> Down
* Aixtron Cut to Hold at Kepler Cheuvreux; PT 17 euros (++)
* Applied Materials Cut to Neutral at Rothschild & Co Redburn (+)
* Atrium Ljungberg Cut to Hold at Kepler Cheuvreux (+)
* Currys Cut to Sector Perform at RBC
* Duell Cut to Reduce at Inderes; PT 4.80 euros
* Embla Medical HF Cut to Hold at ABG; PT 35 kroner
* Inter Cars Cut to Neutral at Citi; PT 645 zloty
* Kion Cut to Hold at mwb research AG; PT 46 euros (++)
* Merck KGaA Cut to Sell at Stifel; PT 100 euros
* Netflix Cut to Neutral at Seaport Global Securities
* Netflix Cut to Neutral at President Capital Management (+)
* Pandora Cut to Hold at HSBC; PT 1,250 kroner
* Pop. Sondrio Cut to Reduce at Equita; PT 9.90 euros (+)
* Poste Italiane Cut to Neutral at JPMorgan; PT 20 euros
* Stellantis Cut to Neutral at BofA (+)
* Tesla Cut to Market Perform at William Blair (++)
* Wacker Chemie Cut to Hold at DZ Bank; PT 70 euros (++)

>>> Initiation
* Angle Rated New Buy at Singer Capital Markets; PT 17 pence (++)
* Allfunds Rated New Buy at Deutsche Bank; PT 8.50 euros (+)
* Aurubis Rated New Hold at Baptista Research; PT 99.10 euros
* BCP Rated New Neutral at Citi; PT 70 euro cents
* Boku Rated New Buy at Canaccord; PT 271 pence (+)
* Cheniere Energy Rated New Buy at Mirae Asset Securities; PT $290
* Dassault Systemes ADRs Rated New Underperform at BNPP Exane (++)
* Faron Pharma Rated New Buy at Bryan Garnier; PT 371.31 pence (+)
* Inmobiliaria Colonial Resumed Buy at Citi
* Poste Italiane Rated New Outperform at Baptista Research
* Prysmian Rated New Hold at Baptista Research; PT 68.30 euros
* Remy Cointreau Reinstated Neutral at BNPP Exane; PT 42 euros (++)
* Rockwell Automation Rated New Outperform at CICC; PT $381
* Rosebank Rated New Buy at Stifel; PT 420 pence (+)
* Skinbiotherapeutics Rated New Buy at Singer Capital Markets (++)
* Snam Rated New Hold at Baptista Research; PT 5.50 euros
* Tenaris Rated New Hold at Baptista Research; PT 18.20 euros
* Voyager Technologies Rated New Buy at Jefferies; PT $50
* Wacker Chemie Rated New Buy at Baptista Research; PT 91.20 euros

>>> Call
* Penmaker BIC’s Shares Fall After UBS Analyst Cuts Estimates, PT (++)
* Currys Downgraded at RBC, Valuation Fair and Macro Outlook Mixed
* Deutsche Bank Strategists Say Equity Exposure Nearing Neutral (+)
* Generali Raised, While Poste Italiane Downgraded at JPMorgan
* JPMorgan’s Matejka Sees European Stocks Consolidating Further (+)
* Merck KGaA Double Downgraded at Stifel on Patent Expiry Risk (+)
* MGM Rated Sell at Goldman on Vegas Pressures; Caesars Rated Buy (++)
* Pandora Drops as HSBC Downgrades; Price Target and Estimates Cut (++)
* Shell Slides After RBC Says Weak Update Breaks Positive Streak (+)
* Stellantis Cut to Neutral at BofA on Fears of ‘Very Weak’ 1H (+)
* Vidrala Maintained Outperform at Grupo Santander (++)
* Weir Seems Primed for a Re-Rating, Citi Upgrades Shares to Buy