>>> Europe : Brokers Upgrades & Downgrades - 8th of January 2025

>>> Up
* BCP Raised to Overweight at JPMorgan; PT 60 euro cents
* CBrain Raised to Hold at ABG; PT 180 kroner
* Couche-Tard Raised to Outperform at National Bank; PT C$89
* CTS Eventim Raised to Buy at Redburn; PT 96 euros
* Ferretti Raised to Outperform at BNPP Exane; PT 3.80 euros
* INWIT Raised to Outperform at Grupo Santander; PT 12.40 euros
* Nokia Raised to Buy at Nordea; PT 5.20 euros
* OHLA Raised to Buy at Bestinver; PT 52 euro cents
* Tapestry Raised to Overweight at Barclays; PT $87

>>> Down
* Adobe Cut to Hold by Deutsche Bank on Lack of AI Monetization
* Ashmore Cut to Hold at Jefferies; PT 170 pence
* BFF Bank Cut to Underperform at BNPP Exane; PT 8.60 euros
* BRANICKS Group AG Cut to Underperform at Oddo BHF; PT 2.10 euros
* Cofinimmo Cut to Underperform at Oddo BHF; PT 56 euros
* Danone Cut to Underperform at Jefferies; PT 56 euros
* Datalogic Cut to Neutral at BNPP Exane; PT 5.60 euros
* Do & Co Cut to Accumulate at Erste Group; PT 214.50 euros
* Lar Espana RE Socimi Cut to Neutral at Oddo BHF; PT 8.30 euros
* Matas Cut to Hold at Nordea
* Merck & Co Cut to Hold at Truist Secs; PT $110
* Nestle Cut to Underperform at Jefferies; PT 67 Swiss francs
* NN Group Cut to Underweight at Morgan Stanley; PT 44 euros
* Patrizia Cut to Underperform at Oddo BHF; PT 7.50 euros
* Ringkjoebing Landbobank Cut to Hold at Nordea
* Sydbank Cut to Hold at Nordea
* Zurich Ins. Cut to Underweight at Morgan Stanley

>>> Initiation
* Atlas Copco Rated New Equal-Weight at Oxcap; PT 178 kronor
* RELX Reinstated Buy at Redburn; PT 4,500 pence
* SF Urban Properties AG Rated New Add at Baader Helvea
* Tate & Lyle Resumed Neutral at Citi; PT 725 pence

>>> Call
* Danone and Nestle Downgraded at Jefferies on De-Rating Risk
* Morgan Stanley More Cautious on Insurers; NN Group, Zurich Cut