- jaanuar Euroopas
Upgrades
- 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
- BE Semiconductor Raised to Buy at UBS
- Berkeley Raised to Overweight at Barclays; PT 5,322 pence
- Boliden Raised to Neutral at UBS
- Equinor Raised to Overweight at Morgan Stanley; PT 340 kroner
- Grand City Properties Raised to Hold at Jefferies; PT 12 euros
- LEG Immobilien Raised to Buy at Jefferies; PT 98 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
- SIG Group Raised to Neutral at BNPP Exane
- Shell Raised to Overweight at Morgan Stanley; PT 3,070 pence
- Shurgard Raised to Hold at Jefferies; PT 37 euros
- Sotkamo Silver Raised to Accumulate at Inderes; PT 1.40 kronor
- 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
Downgrades
- ADP Cut to Underperform at Grupo Santander; PT 118 euros
- AIB Group Cut to Hold at Deutsche Bank
- AJ Bell Cut to Sell at Citi; PT 390 pence
- Air France-KLM Cut to Neutral at Citi; PT 9.50 euros
- Alstom Cut to Sell at Goldman; PT 18.50 euros
- 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
- Kitron Cut to Hold at Norne Securities; PT 39 kroner
- Mondi Cut to Neutral at BNPP Exane
- NX Filtration Cut to Hold at Berenberg
- Pennon Cut to Sell at Deutsche Bank
- 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 Cut to Equal-Weight at Morgan Stanley; PT 61 euros
- Vivendi Cut to Neutral at Oddo BHF; PT 2.50 euros
Initiations
- BMW Rated New Hold at Intesa Sanpaolo; PT 79 euros
- British Land Rated New Buy at Kepler Cheuvreux; PT 440 pence
- Canal+ SA Rated New Outperform at BNPP Exane; PT 280 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
- 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
- jaanuar Euroopas
Upgrades
- BCP Raised to Overweight at JPMorgan; PT 60 euro cents
- CBrain Raised to Hold at ABG; PT 180 kroner
- CTS Eventim Raised to Buy at Redburn; PT 96 euros
- EQT Raised to Buy at BofA
- EQT Raised to Buy at Deutsche Bank
- Elis Raised to Buy at TP ICAP Midcap; PT 24 euros
- Ferretti Raised to Outperform at BNPP Exane; PT 3.80 euros
- INWIT Raised to Outperform at Grupo Santander; PT 12.40 euros
- Nestle Raised to Outperform at BNPP Exane
- Nokia Raised to Buy at Nordea; PT 5.20 euros
- Novo Raised to Buy at UBS
- OHLA Raised to Buy at Bestinver; PT 52 euro cents
- Partners Group Raised to Buy at Deutsche Bank
- Tobii Raised to Market Perform at Handelsbanken; PT 2.80 kronor
- doValue Raised to Buy at Kepler Cheuvreux
Downgrades
- Amundi Cut to Neutral at BofA
- 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
- Beiersdorf Cut to Neutral at BNPP Exane
- CVC Capital Cut to Hold at Deutsche Bank
- CVC Capital Cut to Neutral at BofA
- 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
- InterContinental Hotels Cut to Underweight at Morgan Stanley
- Lar Espana RE Socimi Cut to Neutral at Oddo BHF; PT 8.30 euros
- Matas Cut to Hold at Nordea
- NN Group Cut to Underweight at Morgan Stanley; PT 44 euros
- NOS Cut to Reduce at Kepler Cheuvreux
- Nestle Cut to Underperform at Jefferies; PT 67 Swiss francs
- Patrizia Cut to Underperform at Oddo BHF; PT 7.50 euros
- Ringkjoebing Landbobank Cut to Hold at Nordea
- Sequoia Economic Cut to Hold at Stifel
- Siemens Energy Cut to Hold at Kepler Cheuvreux
- Sydbank Cut to Hold at Nordea
- What’s Cooking BV Cut to Accumulate at KBC Securities
- Zurich Ins. Cut to Underweight at Morgan Stanley
Initiations
- 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
- jaanuar Euroopas
Upgrades
- Admicom Raised to Buy at Nordea; PT 53 euros
- Amadeus Raised to Buy at HSBC; PT 82 euros
- Ambu Raised to Buy at Carnegie; PT 136 kroner
- Atlas Copco Raised to Buy at Carnegie; PT 200 kronor
- Beiersdorf Raised to Outperform at Bernstein
- DSM-Firmenich Raised to Buy at Stifel; PT 122 euros
- Danone Raised to Market Perform at Bernstein
- Delivery Hero Raised to Overweight at Morgan Stanley
- Dunelm Raised to Buy at HSBC; PT 1,275 pence
- Grenke Raised to Buy at Hauck & Aufhaeuser; PT 21 euros
- Hypoport Raised to Buy at Hauck & Aufhaeuser; PT 222 euros
- Immofinanz Raised to Buy at Kepler Cheuvreux
- Melexis Raised to Buy at Jefferies; PT 70 euros
- Orkla Raised to Outperform at Bernstein
- Partners Group Raised to Overweight at Barclays
- Pirelli Raised to Outperform at BNPP Exane
- Repsol Raised to Buy at UBS
- SIG Raised to Buy at Peel Hunt; PT 24 pence
- Saipem Raised to Add at AlphaValue/Baader
- Shell Raised to Buy at UBS
- UBS Raised to Buy at Kepler Cheuvreux
- UPM-Kymmene Raised to Outperform at Davy
- Unilever Raised to Outperform at Bernstein
- Vitrolife Raised to Market Perform at Handelsbanken
- Volvo Raised to Overweight at Morgan Stanley; PT 323 kronor
- Xior Raised to Buy at Kepler Cheuvreux
Downgrades
- Avanza Cut to Reduce at Kepler Cheuvreux
- CVC Capital Cut to Equal-Weight at Barclays; PT 22 euros
- Eni Cut to Neutral at UBS; PT 14 euros
- Evolution Cut to Neutral at Goldman; PT 1,000 kronor
- Experian Cut to Underperform at Bernstein
- Haleon Cut to Market Perform at Bernstein
- Hays Cut to Underweight at Morgan Stanley; PT 70 pence
- ISS Cut to Underweight at Morgan Stanley; PT 127 kroner
- Just Group Cut to Add at Peel Hunt; PT 170 pence
- L’Oreal Cut to Market Perform at Bernstein
- Lindt & Spruengli Cut to Underperform at Bernstein
- Porsche SE Cut to Underperform at BNPP Exane; PT 31 euros
- Retail Estates Cut to Hold at Kepler Cheuvreux
- SUSS MicroTec Cut to Hold at Jefferies; PT 48 euros
- Swatch Cut to Underperform at RBC; PT 140 Swiss francs
- TFF Group Cut to Add at Gilbert Dupont; PT 31.30 euros
- Trustpilot Cut to Hold at Danske Bank Markets; PT 310 pence
- VAT Cut to Hold at Jefferies; PT 350 Swiss francs
- Wise Cut to Hold at HSBC; PT 1,150 pence
Initiations
- Admiral Reinstated Underperform at Mediobanca SpA
- Aviva Reinstated Neutral at Mediobanca SpA; PT 541 pence
- Barratt Redrow PLC Reinstated Buy at BofA
- Bellway Reinstated Neutral at BofA
- Berkeley Reinstated Underperform at BofA
- Legal & General Reinstated Outperform at Mediobanca SpA
- M&G Reinstated Neutral at Mediobanca SpA; PT 220.19 pence
- Phoenix Group Rated New Underperform at Mediobanca SpA
- RHI Magnesita Rated New Buy at Investec; PT 3,900 pence
- Vistry Group Reinstated Underperform at BofA
- jaanuar Euroopas
Upgrades
- AMS-Osram Raised to Hold at Kepler Cheuvreux
- Aedifica Raised to Buy at Bank Degroof Petercam
- Alcon AG Raised to Buy at Redburn; PT 93 Swiss francs
- Amadeus Raised to Buy at UBS
- Antofagasta Raised to Equal-Weight at Morgan Stanley
- Atlas Copco Raised to Outperform at Handelsbanken; PT 260 kronor
- DSM-Firmenich Raised to Outperform at BNPP Exane; PT 128 euros
- Deutsche Telekom Raised to Buy at UBS; PT 33 euros
- FLSmidth Raised to Neutral at Goldman; PT 375 kroner
- Hannover Re Raised to Outperform at BNPP Exane; PT 285 euros
- IPC Raised to Buy at Fearnley; PT 168 kronor
- Legrand Raised to Buy at Kepler Cheuvreux
- Persimmon Raised to Buy at UBS
- Reckitt Raised to Overweight at Morgan Stanley; PT 5,500 pence
- Vinci Raised to Outperform at BNPP Exane; PT 121 euros
- WDP Raised to Buy at Bank Degroof Petercam
- Warehouse Raised to Buy at Shore Capital
- Xior Raised to Buy at Bank Degroof Petercam
Downgrades
- Aena Cut to Neutral at Citi; PT 210 euros
- Croda Cut to Equal-Weight at Morgan Stanley; PT 3,700 pence
- Direct Line Cut to Hold at Deutsche Bank; PT 275 pence
- E.On Cut to Neutral at BofA
- EDP SA Cut to Equal-Weight at Barclays; PT 3.60 euros
- Enagas Cut to Underperform at BofA
- Haleon Cut to Equal-Weight at Morgan Stanley; PT 410 pence
- InterContinental Hotels Cut to Market Perform at Bernstein
- Montea Cut to Hold at Bank Degroof Petercam
- Scor Cut to Neutral at BNPP Exane; PT 26 euros
- Serco Cut to Hold at Jefferies; PT 175 pence
- Sodexo Cut to Market Perform at Bernstein
- Tele2 Cut to Sell at UBS
- Wacker Chemie Cut to Hold at Stifel; PT 77 euros
Initiations
- Liontrust Rated New Underperform at RBC; PT 390 pence
- Polar Capital Rated New Outperform at RBC; PT 600 pence
- SIG Group Rated New Overweight at Morgan Stanley
- Semperit Rated New Buy at M.M. Warburg; PT 17.50 euros
- jaanuar Euroopas
Upgrades
- Ambu Raised to Hold at ABG; PT 125 kroner
- BBVA Raised to Buy at BofA
- Bank of Ireland Raised to Outperform at BNPP Exane
- Bunzl Raised to Buy at Citi; PT 3,700 pence
- Embracer Raised to Buy at Handelsbanken
- Eurazeo Raised to Buy at Goldman; PT 91 euros
- FUCHS SE Raised to Buy at M.M. Warburg; PT 50 euros
- Granges Raised to Buy at ABG; PT 160 kronor
- ING Raised to Market Perform at Bernstein
- Inficon Raised to Buy at Jefferies; PT 1,350 Swiss francs
- J. Martins Raised to Buy at Bryan Garnier; PT 21 euros
- Kreate Raised to Accumulate at Inderes; PT 8 euros
- Lloyds Raised to Market Perform at Bernstein
- Nel Raised to Hold at Jefferies; PT 3 kroner
- PVA TePla Raised to Buy at Jefferies; PT 19 euros
- Public Power Raised to Buy at Goldman; PT 15.50 euros
- Richemont Raised to Buy at TD Cowen; PT 163 Swiss francs
- SMA Solar Raised to Buy at Jefferies; PT 20 euros
- Yara Raised to Buy at SpareBank; PT 370 kroner
Downgrades
- AIB Group Cut to Neutral at BNPP Exane
- Aixtron Cut to Hold at Hauck & Aufhaeuser; PT 13.80 euros
- Aluflexpack Cut to Hold at Berenberg; PT 15.95 Swiss francs
- BE Semiconductor Cut to Hold at Needham
- Bankinter Cut to Underperform at Autonomous
- Capricorn Energy Cut to Sell at Stifel; PT 240 pence
- Corem Property Cut to Hold at Nordea
- DWS Cut to Neutral at Goldman; PT 45 euros
- Esker Cut to Tender at Gilbert Dupont; PT 262 euros
- HSBC Cut to Underperform at Autonomous
- Husqvarna Cut to Hold at Jefferies; PT 65 kronor
- Monte Paschi Cut to Neutral at Autonomous
- SGL Cut to Hold at Jefferies; PT 4.40 euros
- STMicro Cut to Hold at TD Cowen; PT 24.50 euros
- Verbio SE Cut to Hold at Jefferies; PT 11 euros
- Wise Cut to Neutral at New Street Research
- flatexDEGIRO Cut to Hold at Jefferies; PT 17 euros
Initiations
- Erste Rated New Overweight at Morgan Stanley; PT 72 euros
- Science Group Rated New Buy at Canaccord; PT 758 pence
- jaanuar Euroopas
Upgrades
- A2A Raised to Buy at Equita; PT 2.70 euros
- Aixtron Raised to Buy at Van Lanschot Kempen; PT 21 euros
- Amplifon Raised to Outperform at Mediobanca SpA; PT 31 euros
- Autoliv GDRs Raised to Buy at ABG; PT 1,200 kronor
- Campari Raised to Outperform at Mediobanca SpA; PT 7.30 euros
- Carmila Raised to Buy at Van Lanschot Kempen; PT 18.50 euros
- Carmila Raised to Neutral at BofA
- Elisa Raised to Buy at ABG; PT 50 euros
- Entra Raised to Buy at Van Lanschot Kempen; PT 135 kroner
- Epiroc Raised to Buy at ABG; PT 220 kronor
- Epiroc Raised to Buy at Pareto Securities; PT 235 kronor
- Eurocommercial Raised to Buy at BofA
- Fabege Raised to Hold at Nordea
- Fabege Raised to Neutral at Van Lanschot Kempen; PT 85 kronor
- Fila Raised to Outperform at Mediobanca SpA; PT 12.70 euros
- GVS Raised to Outperform at Mediobanca SpA; PT 6.20 euros
- Hammerson Raised to Add at Peel Hunt; PT 300 pence
- Informa Raised to Overweight at Morgan Stanley; PT 1,000 pence
- Inmobiliaria Colonial Raised to Buy at BofA
- IntegraFin Raised to Buy at Peel Hunt; PT 400 pence
- IntegraFin Raised to Buy at Shore Capital; PT 365 pence
- Intrum Raised to Hold at Kepler Cheuvreux
- Kerry Group Raised to Buy at Jefferies; PT 93 euros
- Merlin Properties Raised to Buy at Van Lanschot Kempen
- Mycronic Raised to Market Perform at Handelsbanken
- NextEnergy Solar Raised to Hold at Stifel
- Pirelli Raised to Buy at Goldman; PT 7.10 euros
- Pirelli Raised to Outperform at Mediobanca SpA; PT 6.40 euros
- Pop. Sondrio Raised to Neutral at Mediobanca SpA; PT 8.20 euros
- Primary Health Raised to Neutral at Van Lanschot Kempen
- Sabaf Raised to Outperform at Mediobanca SpA; PT 19.50 euros
- Safran Raised to Buy at Jefferies; PT 260 euros
- Shaftesbury Capital Raised to Neutral at BofA; PT 135 pence
- Sinch Raised to Equal-Weight at Morgan Stanley; PT 20.50 kronor
- Technoprobe Raised to Buy at Equita; PT 7.50 euros
- Technoprobe Raised to Outperform at Mediobanca SpA; PT 8 euros
- Tenaris Raised to Outperform at Mediobanca SpA; PT 22.50 euros
- Tritax Big Box Raised to Add at Peel Hunt; PT 155 pence
- Workspace Raised to Buy at Peel Hunt; PT 600 pence
- Worldline Raised to Equal-Weight at Morgan Stanley; PT 8 euros
Downgrades
- AT&S Cut to Hold at Deutsche Bank; PT 12 euros
- Ambu Cut to Underperform at Handelsbanken; PT 155 kroner
- Assura Cut to Sell at Van Lanschot Kempen; PT 32 pence
- BE Semiconductor Cut to Hold at Stifel; PT 140 euros
- Brembo Cut to Neutral at Mediobanca SpA; PT 12.60 euros
- Buzzi SpA Cut to Neutral at Mediobanca SpA; PT 42.80 euros
- CA Immo Cut to Sell at Van Lanschot Kempen; PT 21.50 euros
- CLS Holdings Cut to Hold at Peel Hunt; PT 85 pence
- Cairo Comm Cut to Underperform at Mediobanca SpA; PT 2.20 euros
- Campari Cut to Neutral at BofA
- Cofinimmo Cut to Neutral at Van Lanschot Kempen; PT 54 euros
- CompuGroup Cut to Equal-Weight at Morgan Stanley; PT 22 euros
- Danieli Cut to Neutral at Mediobanca SpA; PT 34.30 euros
- Eni Cut to Neutral at Mediobanca SpA; PT 15.50 euros
- Geox Cut to Underperform at Mediobanca SpA; PT 45 euro cents
- Grand City Properties Cut to Underperform at BofA
- Icade Cut to Neutral at Van Lanschot Kempen; PT 21 euros
- Interpump Cut to Neutral at Mediobanca SpA; PT 49.40 euros
- LEG Immobilien Cut to Sell at Van Lanschot Kempen
- Land Sec. Cut to Neutral at Van Lanschot Kempen; PT 580 pence
- MFE Cut to Underperform at Mediobanca SpA; PT 3.70 euros
- Mercedes Cut to Neutral at Goldman; PT 59 euros
- Moncler Cut to Equal-Weight at Barclays; PT 56 euros
- NCAB Group Cut to Hold at Pareto Securities; PT 69 kronor
- Netcompany Cut to Hold at ABG; PT 360 kroner
- Nexi Cut to Neutral at Mediobanca SpA; PT 7.50 euros
- Nexi Cut to Underweight at Morgan Stanley; PT 4.75 euros
- Piaggio Cut to Neutral at Mediobanca SpA; PT 2.80 euros
- Porsche SE Cut to Sell at Goldman; PT 35 euros
- Remy Cointreau Cut to Underperform at BofA
- Retail Estates Cut to Neutral at Van Lanschot Kempen
- Rizzoli Corriere Cut to Underperform at Mediobanca SpA
- Soitec Cut to Neutral at Van Lanschot Kempen; PT 100 euros
- Swedbank Cut to Hold at Arctic Securities; PT 250 kronor
- Swedish Logistic Property Cut to Neutral at Van Lanschot Kempen
- Technip Energies Cut to Equal-Weight at Morgan Stanley
- Town Centre Securities Cut to Add at Peel Hunt; PT 140 pence
- Trustpilot Cut to Equal-Weight at Morgan Stanley; PT 305 pence
- Unicaja Cut to Underperform at BNPP Exane
- Unite Group Cut to Neutral at BofA; PT 950 pence
- Wise Cut to Equal-Weight at Morgan Stanley; PT 1,185 pence
Initiations
- Vitrolife Reinstated Buy at ABG; PT 278 kronor
- Zabka Rated New Hold at HSBC; PT 23 zloty
- jaanuar Euroopas
Upgrades
- Adesso SE Raised to Buy at Hauck & Aufhaeuser; PT 103 euros
- BAE Raised to Neutral at BNPP Exane; PT 1,286 pence
- Balder Raised to Buy at Nordea; PT 85 kronor
- Balder Raised to Buy at SEB Equities; PT 83 kronor
- DNB Bank Raised to Buy at Arctic Securities; PT 260 kroner
- Ferrovial Raised to Overweight at JPMorgan; PT 49 euros
- Fuller Smith & Turner Raised to Buy at Panmure Liberum
- Indutrade Raised to Buy at ABG; PT 325 kronor
- Iren Raised to Buy at Kepler Cheuvreux
- Just Eat Takeaway Raised to Buy at Bryan Garnier; PT 17 euros
- LVMH Raised to Buy at BofA
- Leonardo Raised to Overweight at Morgan Stanley; PT 35 euros
- Lindt & Spruengli Raised to Buy at CIC; PT 120,000 Swiss francs
- NIOX GROUP PLC Raised to Buy at Panmure Liberum; PT 69 pence
- Orange Polska Raised to Buy at Erste Group; PT 9 zloty
- Orsted Raised to Neutral at Grupo Santander; PT 360 kroner
- Randstad Raised to Buy at BofA
- Rapala VMC Raised to Accumulate at Inderes; PT 2.20 euros
- Sagax Raised to Buy at SEB Equities; PT 270 kronor
- TAG Immobilien Raised to Neutral at BNPP Exane
- Thales Raised to Outperform at BNPP Exane; PT 176 euros
- Witted Megacorp Raised to Buy at Inderes; PT 2 euros
- Zalando Raised to Buy at UBS
Downgrades
- AB Foods Cut to Sell at Citi; PT 1,770 pence
- About You Cut to Neutral at UBS
- BlueNord Cut to Hold at DNB Markets; PT 680 kroner
- Delivery Hero Cut to Neutral at Bryan Garnier; PT 36 euros
- EasyJet Cut to Neutral at Davy; PT 580 pence
- ISS Cut to Underperform at BofA
- JD Sports Cut to Neutral at UBS
- Klepierre Cut to Neutral at BNPP Exane
- Nokia Cut to Sell at Goldman; PT 3.50 euros
- Prosus Cut to Hold at Kepler Cheuvreux
- Safran Cut to Equal-Weight at Morgan Stanley; PT 243 euros
- Saint-Gobain Cut to Neutral at UBS
- Sodexo Cut to Underperform at BNPP Exane
- TFF Group Cut to Reduce at IDMidcaps; PT 25 euros
- Var Energi Cut to Hold at DNB Markets; PT 39 kroner
- Victorian Plumbing Group Cut to Hold at Panmure Liberum
- Vonovia Cut to Neutral at BNPP Exane
Initiations
- Apotea Sverige Rated New Buy at SEB Equities; PT 83 kronor
- Bankinter Rated New Outperform at RBC; PT 9.75 euros
- Beazley Reinstated Outperform at Autonomous; PT 1,000 pence
- Brunello Cucinelli Rated New Buy at Banca Akros (ESN)
- CaixaBank Rated New Sector Perform at RBC; PT 5.65 euros
- Eurocommercial Rated New Accumulate at KBC Securities
- Ferragamo Rated New Neutral at Banca Akros (ESN); PT 6.50 euros
- Hannover Re Reinstated Neutral at Autonomous; PT 265 euros
- Hiscox Reinstated Neutral at Autonomous; PT 1,115 pence
- Intercos Rated New Buy at Kepler Cheuvreux; PT 17.50 euros
- Lancashire Reinstated Outperform at Autonomous; PT 840 pence
- Moncler Rated New Accumulate at Banca Akros (ESN); PT 55 euros
- Munich Re Reinstated Neutral at Autonomous; PT 520 euros
- Pluxee Rated New Hold at Stifel; PT 25 euros
- Prisma Properties Rated New Hold at Pareto Securities
- Scor Reinstated Neutral at Autonomous; PT 27.50 euros
- Swiss Re Reinstated Outperform at Autonomous
- jaanuar Euroopas
Upgrades
- Almirall Raised to Buy at CaixaBank BPI; PT 10.30 euros
- Altri Raised to Buy at CaixaBank BPI; PT 6.80 euros
- Antofagasta Raised to Hold at Peel Hunt; PT 1,735 pence
- Bakkafrost Raised to Buy at Fearnley; PT 730 kroner
- Beijer REF Raised to Buy at DNB Markets; PT 182 kronor
- Big Yellow Group Raised to Buy at Jefferies; PT 1,224 pence
- British Land Raised to Hold at Jefferies; PT 310 pence
- CFE Raised to Outperform at Oddo BHF; PT 8 euros
- Deutsche Konsum REIT-AG Raised to Buy at M.M. Warburg
- Electrolux Professional Raised to Buy at Kepler Cheuvreux
- Elisa Raised to Buy at HSBC; PT 50 euros
- FCC Raised to Buy at CaixaBank BPI; PT 12.50 euros
- Fagron Raised to Buy at ING; PT 22 euros
- Fagron Raised to Buy at Kepler Cheuvreux; PT 20.75 euros
- Getinge Raised to Buy at Pareto Securities; PT 220 kronor
- Grodno Raised to Buy at Dom Maklerski BOSSA; PT 12.40 zloty
- LDA SM Raised to Buy at CaixaBank BPI; PT 1.25 euros
- Melexis Raised to Buy at KBC Securities; PT 85 euros
- NOS Raised to Buy at CaixaBank BPI; PT 3.70 euros
- National Grid Raised to Buy at Citi; PT 1,063 pence
- Pets at Home Raised to Buy at Peel Hunt; PT 325 pence
- SSE Raised to Neutral at Citi; PT 1,712 pence
- Sabadell Raised to Buy at CaixaBank BPI; PT 2.30 euros
- Spirax Raised to Buy at Jefferies; PT 7,850 pence
- Tecnicas Reunidas Raised to Buy at CaixaBank BPI; PT 17.20 euros
- Telenor Raised to Buy at HSBC; PT 155 kroner
Downgrades
- Argenx Cut to Sell at Deutsche Bank; PT 575 euros
- Fortum Cut to Sell at Deutsche Bank; PT 12 euros
- Grainger Cut to Hold at Peel Hunt; PT 220 pence
- Grieg Seafood Cut to Hold at Fearnley; PT 66 kroner
- Hafnia Cut to Hold at Arctic Securities; PT 63 kroner
- Handelsbanken Cut to Hold at Kepler Cheuvreux; PT 127 kronor
- Judges Scientific Cut to Hold at Jefferies; PT 8,500 pence
- Logista Cut to Neutral at CaixaBank BPI; PT 30.70 euros
- Maersk Cut to Hold at Jefferies; PT 11,500 kroner
- Mapfre Cut to Underperform at CaixaBank BPI; PT 2.50 euros
- Midwich Cut to Hold at Panmure Liberum; PT 300 pence
- Munich Re Cut to Neutral at Mediobanca SpA; PT 560 euros
- NOS Cut to Reduce at HSBC; PT 3 euros
- Naturgy Cut to Underperform at CaixaBank BPI; PT 23.50 euros
- New Wave Cut to Hold at Kepler Cheuvreux; PT 105 kronor
- Odfjell Cut to Hold at Arctic Securities; PT 130 kroner
- Prosegur Cut to Underperform at CaixaBank BPI; PT 1.75 euros
- Redeia Cut to Sell at Deutsche Bank; PT 15 euros
- Riber Cut to Reduce at Gilbert Dupont; PT 2.90 euros
- SEB Cut to Hold at DNB Markets; PT 176 kronor
- Sampo Cut to Neutral at Mediobanca SpA; PT 45 euros
- Smiths Cut to Hold at Jefferies; PT 1,930 pence
- Sparebanken Vest Cut to Hold at Nordea
- Torm Cut to Hold at Arctic Securities; PT 151.94 kroner
- XP Power Cut to Hold at Jefferies; PT 1,440 pence
Initiations
- Bango Rated New Buy at Canaccord; PT 244 pence
- Endur ASA Rated New Buy at Danske Bank Markets; PT 100 kroner
- Puig Rated New Buy at JB Capital Markets; PT 23.10 euros
- Schneider Electric Rated New Outperform at Haitong Intl
- Troendelag Rated New Hold at Norne Securities; PT 114 kroner
- jaanuar Euroopas
Upgrades
- Industrivarden Raised to Outperform at Handelsbanken
- Legrand Raised to Buy at Redburn; PT 125 euros
- Lundbergforetagen Raised to Outperform at Handelsbanken
- Mission Group Raised to Buy at Canaccord; PT 62 pence
- Next Raised to Overweight at Morgan Stanley; PT 10,800 pence
- Pluxee Raised to Buy at Berenberg; PT 30 euros
- Rio Tinto Raised to Hold at SBG Securities; PT 5,500 pence
- SSAB Raised to Hold at Nordea
- Swedbank Raised to Buy at HSBC; PT 285 kronor
- TUI Raised to Add at Peel Hunt; PT 8.50 euros
- Telekom Austria Raised to Accumulate at Erste Group
Downgrades
- AB Foods Cut to Underweight at Morgan Stanley; PT 1,900 pence
- Anglo American Cut to Hold at SBG Securities; PT 2,800 pence
- Ascom Cut to Market Perform at ZKB
- Dino Polska Cut to Underweight at Morgan Stanley; PT 368 zloty
- Fagerhult Group AB Cut to Hold at SEB Equities; PT 60 kronor
- Loungers Cut to Hold at Berenberg; PT 325 pence
- Netcompany Cut to Hold at SEB Equities; PT 365 kroner
- Norsk Hydro Cut to Sector Perform at RBC; PT 76 kroner
- Norske Skog Cut to Hold at DNB Markets; PT 22 kroner
- Pearson Cut to Equal-Weight at Morgan Stanley; PT 1,300 pence
- QT Group Cut to Hold at SEB Equities; PT 84 euros
- Rightmove Cut to Underperform at Jefferies; PT 495 pence
- SEB Cut to Hold at HSBC; PT 175 kronor
- Sainsbury Cut to Underweight at Morgan Stanley; PT 276 pence
Initiations
- BT Rated New Underperform at Oddo BHF; PT 118 pence
- Intea Fastigheter Rated New Buy at ABG; PT 50 kronor
- Stendorren Fastigheter Rated New Buy at Arctic Securities
- jaanuar Euroopas
Upgrades
- AAK Raised to Buy at ABG; PT 360 kronor
- Avanza Raised to Buy at Danske Bank Markets; PT 355 kronor
- Aviva Raised to Overweight at JPMorgan; PT 615 pence
- BMW Raised to Buy at Berenberg
- Bachem Raised to Equal-Weight at Barclays; PT 65 Swiss francs
- Big Yellow Group Raised to Buy at Berenberg
- Cargotec Raised to Buy at SEB Equities; PT 57 euros
- Coloplast Raised to Buy at HSBC; PT 920 kroner
- Corticeira Amorim Raised to Buy at JB Capital Markets
- Elisa Raised to Buy at Kepler Cheuvreux
- H+H Raised to Buy at Danske Bank Markets; PT 85 kroner
- Halma Raised to Buy at Berenberg; PT 3,250 pence
- Hannover Re Raised to Buy at HSBC; PT 280 euros
- JM Raised to Hold at SEB Equities; PT 173 kronor
- LDA SM Raised to Neutral at JB Capital Markets; PT 1.10 euros
- Millicom GDRs Raised to Buy at HSBC; PT 380 kronor
- Munich Re Raised to Buy at HSBC; PT 560 euros
- Suedzucker Raised to Hold at M.M. Warburg; PT 10.40 euros
- Vestas Raised to Buy at Jefferies; PT 135 kroner
- Virbac Raised to Buy at IDMidcaps; PT 410 euros
Downgrades
- Amedeo Air Four Plus Cut to Hold at Jefferies
- Carrefour Cut to Underperform at BNPP Exane; PT 11 euros
- DFDS Cut to Sell at Nordea; PT 108 kroner
- Flow Traders Cut to Neutral at Oddo BHF; PT 25 euros
- Hochschild Mining Cut to Sector Perform at RBC; PT 260 pence
- JD Sports Cut to Neutral at Citi; PT 95 pence
- Mercedes Cut to Hold at Berenberg
- Porsche SE Cut to Hold at Berenberg
- STMicro Cut to Underweight at Barclays; PT 20 euros
- Schaeffler Cut to Hold at Deutsche Bank; PT 4.50 euros
- Swiss Re Cut to Hold at HSBC; PT 140 Swiss francs
Initiations
- Alfa Financial Rated New Buy at Shore Capital; PT 270 pence
- Bilia Reinstated Buy at Pareto Securities; PT 150 kronor
- Dassault Systemes Rated New Outperform at Grupo Santander
- Geberit Rated New Underweight at JPMorgan; PT 450 Swiss francs
- Kaufman & Broad Rated New Buy at Kepler Cheuvreux
- Lindab Rated New Hold at SEB Equities; PT 200 kronor
- Nexity Reinstated Hold at Kepler Cheuvreux; PT 12.90 euros
- PolyPeptide Group Rated New Overweight at Barclays
- Sunrise Communications Rated New Buy at Redburn
- Transense Technologies Rated New Corporate at Cavendish
- jaanuar Euroopas
Upgrades
- Air Liquide Raised to Buy at Redburn; PT 204 euros
- Balder Raised to Buy at Kepler Cheuvreux
- Bankinter Raised to Buy at CaixaBank BPI; PT 9.60 euros
- Carl Zeiss Meditec Raised to Buy at HSBC; PT 54 euros
- Corem Property Raised to Hold at Kepler Cheuvreux
- Entra Raised to Buy at Kepler Cheuvreux
- Galp Raised to Buy at JB Capital Markets; PT 21.50 euros
- Greggs Raised to Buy at HSBC; PT 2,500 pence
- IAG Raised to Buy at Stifel; PT 421.23 pence
- Intertek Raised to Overweight at Barclays
- Tomra Raised to Overweight at Barclays; PT 190 kroner
- WPP Raised to Buy at Kepler Cheuvreux
Downgrades
- Air France-KLM Cut to Neutral at Stifel; PT 8 euros
- Anglo American Cut to Neutral at Citi; PT 2,800 pence
- Dino Polska Cut to Equal-Weight at Barclays; PT 445 zloty
- Eurofins Scientific Cut to Equal-Weight at Barclays
- Hexagon Purus Cut to Sell at SpareBank; PT 2.50 kroner
- Imerys Cut to Hold at Berenberg; PT 32 euros
- Mandatum Cut to Accumulate at OP Corporate Bank; PT 4.90 euros
- Puma Cut to Hold at DZ Bank; PT 35 euros
- Ryanair Cut to Hold at Stifel; PT 20 euros
- SES GDRs Cut to Equal-Weight at Barclays; PT 3.05 euros
- Sanoma Cut to Hold at Nordea
- Swedbank Cut to Hold at DNB Markets; PT 265 kronor
- SyntheticMR Cut to Hold at Pareto Securities; PT 5.30 kronor
Initiations
- AUTO1 Rated New Hold at Berenberg; PT 19 euros
- Bloomsbury Reinstated Buy at Peel Hunt; PT 815 pence
- Bonava Reinstated Hold at Nordea
- jaanuar Euroopas
Upgrades
- ASML Raised to Buy at DZ Bank; PT 750 euros
- Aena Raised to Overweight at Barclays; PT 228 euros
- Almawave Raised to Buy at Banca Akros (ESN); PT 4 euros
- Ceres Power Raised to Buy at Goldman; PT 220 pence
- Gecina Raised to Buy at HSBC; PT 107 euros
- Henkel Raised to Buy at M.M. Warburg; PT 105 euros
- LEG Immobilien Raised to Buy at HSBC; PT 92 euros
- Lindt & Spruengli Raised to Buy at Redburn
- Logitech Raised to Buy at Kepler Cheuvreux
- Netcompany Raised to Buy at SEB Equities; PT 350 kroner
- QleanAir Raised to Buy at Pareto Securities; PT 25 kronor
- Rotork Raised to Buy at Deutsche Bank; PT 405 pence
- SSAB Raised to Buy at DNB Markets; PT 65 kronor
- SSAB Raised to Buy at Danske Bank Markets; PT 62 kronor
- Sartorius Stedim Raised to Hold at Intron Health; PT 230 euros
- Strix Raised to Buy at Shore Capital
- TAG Immobilien Raised to Buy at HSBC; PT 16.50 euros
- Verkkokauppa Raised to Accumulate at Inderes; PT 1.90 euros
- Volvo Raised to Buy at Danske Bank Markets; PT 350 kronor
Downgrades
- Adriatic Metals Cut to Hold at Berenberg; PT 180 pence
- Alliance Pharma Cut to Hold at Berenberg
- Avolta AG Cut to Hold at HSBC; PT 43 Swiss francs
- Enav Cut to Hold at Equita; PT 3.70 euros
- Generali Cut to Neutral at Banca Akros (ESN); PT 29 euros
- Icade Cut to Hold at HSBC; PT 25 euros
- Leonardo Cut to Accumulate at Banca Akros (ESN); PT 32 euros
- Multiconsult Cut to Hold at ABG; PT 215 kroner
- Norconsult Norge Cut to Hold at ABG; PT 46 kroner
- Richemont Cut to Hold at Bank Vontobel; PT 185 Swiss francs
- Text SA Cut to Hold at Wood & Company; PT 67 zloty
- Thyssenkrupp Nucera Cut to Sell at Goldman; PT 8.70 euros
- Unibail Cut to Hold at HSBC; PT 85 euros
Initiation
- Havas NV Rated New Neutral at JPMorgan; PT 1.90 euros
- jaanuar Euroopas
Upgrades
- ALK-Abello Raised to Buy at Jefferies; PT 185 kroner
- BBVA Raised to Buy at HSBC; PT 13 euros
- Deutsche Telekom Raised to Buy at Intesa Sanpaolo; PT 38 euros
- Fevertree Drinks Raised to Neutral at Goldman; PT 850 pence
- Graines Voltz Raised to Add at Gilbert Dupont; PT 22.40 euros
- Logitech Raised to Hold at Deutsche Bank; PT 80 Swiss francs
- Next Raised to Buy at UBS
- Nokia Raised to Buy at ABG; PT 5.20 euros
- Nokia Raised to Reduce at Inderes; PT 4.20 euros
- Pennon Raised to Hold at Deutsche Bank; PT 570 pence
- RVRC Holding Raised to Buy at SEB Equities; PT 60 kronor
- Samse SACA Raised to Add at Gilbert Dupont; PT 160 euros
- Sanofi Raised to Hold at Deutsche Bank
- Serge Ferrari SAS Raised to Outperform at Oddo BHF; PT 7 euros
- Vetoquinol Raised to Add at Gilbert Dupont; PT 85 euros
- Wavestone Raised to Buy at Kepler Cheuvreux
- Yara Raised to Hold at Norne Securities; PT 350 kroner
Downgrades
- Admiral Cut to Reduce at Peel Hunt; PT 2,300 pence
- Allfunds Cut to Neutral at UBS
- Alliance Pharma Cut to Sector Perform at RBC; PT 62.50 pence
- Carrefour Cut to Hold at HSBC; PT 14 euros
- Dowlais Cut to Hold at Peel Hunt; PT 85 pence
- Epiroc Cut to Hold at SEB Equities; PT 230 kronor
- Kongsberg Cut to Hold at SEB Equities; PT 1,335 kroner
- Norconsult Norge Cut to Hold at SEB Equities; PT 46 kroner
- Nordea Bank Cut to Accumulate at Inderes; PT 12.50 euros
- Nordea Bank Cut to Hold at SEB Equities; PT 12.63 euros
- Sainsbury Cut to Hold at HSBC; PT 285 pence
- Surgical Science Sweden Cut to Hold at Berenberg; PT 180 kronor
- Tullow Cut to Hold at Panmure Liberum
- Umicore Cut to Hold at Kepler Cheuvreux
Initiations
- Azimut Rated New Neutral at Autonomous
- Bakkavor Rated New Outperform at RBC; PT 170 pence
- Greencore Group Rated New Outperform at RBC; PT 240 pence
- Spirax Rated New Overweight at Oxcap; PT 10,200 pence
- Volex Rated New Buy at Jefferies; PT 350 pence
- veebruar Euroopas
Upgrades
- Accesso Technology Raised to Buy at Peel Hunt; PT 600 pence
- Addnode Group AB Raised to Buy at Pareto Securities
- Atoss Software SE Raised to Buy at Hauck & Aufhaeuser
- Big Yellow Group Raised to Buy at HSBC; PT 1,156 pence
- British Land Raised to Buy at HSBC; PT 450 pence
- DNO Raised to Buy at SpareBank; PT 15 kroner
- Eurofins Scientific Raised to Outperform at Bernstein
- Gulf Keystone Raised to Buy at SpareBank; PT 300 pence
- H&M Raised to Accumulate at Inderes; PT 160 kronor
- Hammerson Raised to Buy at HSBC; PT 373 pence
- Informa Raised to Buy at Investec; PT 950 pence
- Knorr-Bremse Raised to Buy at Jefferies; PT 91 euros
- Redeia Raised to Neutral at Oddo BHF; PT 17 euros
- SSAB Raised to Buy at Jefferies; PT 64 kronor
- Serabi Gold Raised to Buy at Peel Hunt; PT 160 pence
Downgrades
- Addnode Group AB Cut to Hold at Kepler Cheuvreux
- Cool Cut to Sell at Arctic Securities; PT 47 kroner
- Elisa Cut to Hold at Danske Bank Markets; PT 45 euros
- FLEX LNG Cut to Hold at Arctic Securities; PT 289 kroner
- Forvia Cut to Neutral at CIC; PT 11 euros
- Getinge Cut to Market Perform at Handelsbanken; PT 300 kronor
- Grieg Seafood Cut to Hold at Nordea
- HSBC Cut to Hold at Deutsche Bank; PT 910 pence
- Hemnet Cut to Neutral at Grupo Santander; PT 404.50 kronor
- Intrum Cut to Reduce at Kepler Cheuvreux
- Ricardo Cut to Hold at Stifel; PT 280 pence
- Saipem Cut to Hold at Stifel; PT 2.50 euros
- Sandoz Group Cut to Neutral at UBS
- Segro Cut to Hold at HSBC; PT 685 pence
- Solwers Cut to Reduce at Inderes; PT 2.80 euros
- Swedbank Cut to Underweight at Barclays; PT 199 kronor
- Vestas Cut to Sell at SpareBank; PT 90 kroner
Initiations
- Elixirr International Rated New Buy at Peel Hunt; PT 1,100 pence
- Louis Hachette Group Rated New Buy at CIC; PT 2.20 euros
- Raysearch Rated New Buy at SEB Equities; PT 335 kronor
- veebruar Euroopas
Upgrades
- Ahold Delhaize Raised to Buy at Bank Degroof Petercam
- Avanza Raised to Neutral at JPMorgan; PT 279 kronor
- Biophytis SA Raised to Buy at Invest Securities SA
- Dunelm Raised to Outperform at RBC; PT 1,175 pence
- Fresenius Medical Care Raised to Hold at M.M. Warburg
- Melia Hotels Raised to Buy at JB Capital Markets; PT 9.50 euros
- Novartis Raised to Buy at Deutsche Bank; PT 110 Swiss francs
- Pennon Raised to Outperform at RBC; PT 600 pence
- Syensqo Raised to Overweight at Morgan Stanley; PT 89 euros
- Vetoquinol Raised to Buy at IDMidcaps; PT 100 euros
- Young & Co’s Raised to Overweight at JPMorgan; PT 1,240 pence
Downgrades
- Autoliv GDRs Cut to Hold at Pareto Securities; PT 1,150 kronor
- Bavarian Nordic Cut to Hold at Nordea
- Belimo Cut to Reduce at Baader Helvea; PT 689 Swiss francs
- Fevertree Drinks Cut to Sell at Redburn; PT 593 pence
- Kalmar Cut to Hold at SEB Equities; PT 35 euros
- Lagercrantz Cut to Market Perform at Handelsbanken
- Orion Cut to Hold at Nordea
- QT Group Cut to Accumulate at Inderes; PT 90 euros
- Reckitt Cut to Equal-Weight at Barclays; PT 5,360 pence
- SSP Cut to Sector Perform at RBC; PT 200 pence
- Vaisala Cut to Accumulate at Evli Bank; PT 56 euros
- Vitrolife Cut to Underperform at Handelsbanken; PT 255 kronor
- Vontobel Cut to Neutral at Oddo BHF; PT 66 Swiss francs
Initiations
- Avanza Rated New Buy at Pareto Securities; PT 380 kronor
- Mycronic Rated New Buy at SEB Equities; PT 520 kronor
- NOVAL GA Rated New Buy at Alpha Finance; PT 3.30 euros
- Nordnet Rated New Hold at Pareto Securities; PT 265 kronor
- Wiit Rated New Buy at Berenberg; PT 23 euros
- veebruar Euroopas
Upgrades
- Alma Media Raised to Accumulate at Inderes; PT 13 euros
- Ctek Raised to Buy at Pareto Securities; PT 17 kronor
- Equinor Raised to Buy at DZ Bank; PT 320 kroner
- Equinor Raised to Buy at Danske Bank Markets; PT 300 kroner
- Equinor Raised to Buy at Nordea
- Equinor Raised to Buy at Pareto Securities; PT 300 kroner
- Equinor Raised to Buy at SpareBank; PT 320 kroner
- Greencore Group Raised to Buy at Deutsche Bank; PT 225 pence
- Infineon Raised to Overweight at Morgan Stanley; PT 40 euros
- Kesko Raised to Buy at ABG; PT 20 euros
- Pandora Raised to Buy at Danske Bank Markets; PT 1,530 kroner
- Ringkjoebing Landbobank Raised to Buy at Nordea
- Ringkjoebing Landbobank Raised to Hold at ABG; PT 1,040 kroner
- Ypsomed Raised to Outperform at BNPP Exane
Downgrades
- Akzo Nobel Cut to Hold at Jefferies; PT 61 euros
- Alm Brand Cut to Hold at Jyske Bank; PT 16 kroner
- Anima Holding Cut to Hold at Equita; PT 7 euros
- Athens Intnl Airport Cut to Underperform at BofA
- Bilia Cut to Hold at Kepler Cheuvreux
- Cool Cut to Hold at ABG; PT 92 kroner
- H&M Cut to Neutral at Bryan Garnier; PT 175 kronor
- Halma Cut to Reduce at HSBC; PT 2,760 pence
- STMicro Cut to Neutral at BofA
- Schott Pharma Cut to Underperform at BNPP Exane
- Siltronic Cut to Hold at Berenberg
- Stillfront Cut to Hold at Nordea
- Valmet Cut to Neutral at BNPP Exane
- Weir Group PLC/The Cut to Neutral at BNPP Exane; PT 2,270 pence
Initiations
- Altea Green Power Rated New Buy at TP ICAP Midcap
- Anexo Rated New Corporate at Shore Capital
- Ferrari Rated New Hold at Deutsche Bank; PT 430 euros
- Greatland Gold Rated New Buy at Argonaut Securities; PT 17 pence
- Norwegian Air Reinstated Buy at Arctic Securities; PT 13 kroner
- Prysmian Rated New Neutral at UBS; PT 70 euros
- veebruar Euroopas
Upgrades
- Alpha Services Raised to Outperform at Mediobanca SpA
- BPER Banca Raised to Buy at Deutsche Bank; PT 7.60 euros
- Budimex Raised to Neutral at Citi; PT 551 zloty
- Carl Zeiss Meditec Raised to Hold at Stifel; PT 60 euros
- DiaSorin Raised to Buy at Stifel; PT 115 euros
- Grifols Raised to Overweight at Morgan Stanley; PT 12 euros
- Harbour Energy Raised to Neutral at Goldman; PT 245 pence
- Lufthansa Raised to Outperform at Bernstein; PT 8 euros
- Marimekko Raised to Accumulate at Evli Bank; PT 13 euros
- Piraeus Bank Raised to Outperform at Mediobanca SpA
- Ponsse Raised to Accumulate at Inderes; PT 24 euros
- Sartorius Raised to Overweight at Morgan Stanley; PT 340 euros
- Sartorius Stedim Raised to Overweight at Morgan Stanley
- Schott Pharma Raised to Buy at Stifel; PT 26.50 euros
- Teleste Raised to Accumulate at Inderes; PT 3.20 euros
- UPM-Kymmene Raised to Buy at Citi; PT 36 euros
Downgrades
- Alisa Pankki Oyj Cut to Reduce at Evli Bank; PT 18 euro cents
- Anima Holding Cut to Hold at Intesa Sanpaolo; PT 7 euros
- AstraZeneca Cut to Hold at Nordea
- Entain Cut to Neutral at BofA
- Fortum Cut to Neutral at Oddo BHF; PT 15.50 euros
- H&M Cut to Hold at Deutsche Bank; PT 160 kronor
- Hexagon Purus Cut to Hold at Pareto Securities; PT 2 kroner
- IAG Cut to Market Perform at Bernstein; PT 350 pence
- L’Oreal Cut to Equal-Weight at Morgan Stanley; PT 379 euros
- Lanxess Cut to Neutral at Van Lanschot Kempen; PT 29 euros
- Logista Cut to Neutral at Grupo Santander; PT 33.20 euros
- Lonza Cut to Equal-Weight at Morgan Stanley; PT 625 Swiss francs
- Merck KGaA Cut to Equal-Weight at Morgan Stanley; PT 160 euros
- NNIT Cut to Sell at ABG; PT 70 kroner
- Orsted Cut to Neutral at BofA
- Spectris Cut to Hold at HSBC; PT 3,200 pence
- Telenor Cut to Sell at SpareBank; PT 120 kroner
- Wihlborgs Cut to Hold at DNB Markets; PT 120 kronor
- Witted Megacorp Cut to Accumulate at Inderes; PT 1.80 euros
Initiations
- Ashtead Technology Rated New Buy at Investec; PT 819 pence
- AstraZeneca Rated New Overweight at Morgan Stanley
- Avax SA Rated New Overweight at Euroxx Securities; PT 3.40 euros
- Covestro Rated New Market Perform at CICC; PT 62 euros
- GSK Reinstated Underweight at Morgan Stanley; PT 1,450 pence
- Gimv Resumed Buy at KBC Securities; PT 56 euros
- HelloFresh Rated New Buy at M.M. Warburg; PT 15.40 euros
- Novartis Reinstated Underweight at Morgan Stanley
- Novo Rated New Equal-Weight at Morgan Stanley; PT 700 kroner
- Roche Reinstated Equal-Weight at Morgan Stanley
- Zealand Pharma Reinstated Equal-Weight at Morgan Stanley
- Zegona Communications Rated New Outperform at Grupo Santander