>>> Europe : Brokers Upgrades & Downgrades - 9th of April 2025

>>> Up
* Airtel Africa Raised to Overweight at JPMorgan; PT 162.50 pence
* Apple Raised to Hold at Jefferies; PT $167.88
* Deutsche Telekom PT Raised to 44 euros from 43 euros at JPMorgan
* Eastman Chemical Raised to Outperform at RBC; PT $91
* Norwegian Air Raised to Overweight at Barclays; PT 14 kroner
* Rolls-Royce Raised to Buy at Kepler Cheuvreux
* SEB Raised to Buy at Kepler Cheuvreux
* Simon Property Raised to Buy at Stifel; PT $168.50
* Starbucks Raised to Hold at Jefferies; PT $76
* Trevi Finanziaria Industrial Raised to Buy at Kepler Cheuvreux
* Wienerberger Raised to Buy at Wiener Privatbank; PT 33.50 euros

>>> Down
* CVC Capital Cut to Equal-Weight at Morgan Stanley; PT 15 euros
* EQT Cut to Equal-Weight at Morgan Stanley; PT 249 kronor
* Etteplan Cut to Accumulate at Inderes; PT 12.50 euros
* Jupiter Cut to Underweight at Morgan Stanley; PT 58 pence
* LyondellBasell Cut to Sector Perform at RBC; PT $62
* Schroders Cut to Underweight at Morgan Stanley; PT 280 pence

>>> Initiation
* Adyen Rated New Outperform at Evercore ISI; PT 1,775 euros
* Bavarian Nordic Rated New Buy at SEB Equities; PT 250 kroner
* Borregaard Rated New Buy at Kepler Cheuvreux; PT 205 kroner
* Johnson & Johnson Assumed Buy at Goldman
* KPN Rated New Hold at Kepler Cheuvreux; PT 4.10 euros

>>> Call
* Affirm, Adyen Rated Buy as Evercore Says ‘Too Cheap’ to Pass
* Apple Raised at Jefferies, But PT Slashed on Tariffs, AI Outlook
* BHP Seen Outperforming Australian Miners Amid Volatility: MS
* China’s Stimulus Bazooka Is Necessary Amid Tariff Hit: Aberdeen
* Euronext Among Favored Names at Morgan Stanley; EQT, Jupiter Cut