Berenberg Bank Stock Recommendations and Price Targets

This is a list of recent ratings by Berenberg Bank.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
4/16/2025	SUS S&U	Reiterated Rating	GBX 1,430	GBX 1,700	Hold	N/A
4/16/2025	HTG Hunting	Lower Price Target	GBX 256	GBX 490 ➝ GBX 480	Buy	N/A
4/16/2025	MTO Mitie Group	Boost Price Target	GBX 133	GBX 160 ➝ GBX 165	Buy	N/A
4/16/2025	ANTO Antofagasta	Reiterated Rating	GBX 1,538	GBX 2,100	Buy	N/A
4/16/2025	DSCV discoverIE Group	Reiterated Rating	GBX 560	GBX 950	Buy	N/A
4/16/2025	RIO Rio Tinto Group	Reiterated Rating	GBX 4,389	GBX 6,200	Buy	N/A
4/15/2025	NTR Nutrien	Boost Price Target	$53.00	$54.00 ➝ $59.00	Buy	Low
4/15/2025	WISE Wise	Reiterated Rating	GBX 962	GBX 1,240	Buy	N/A
4/15/2025	KIST Kistos	Reiterated Rating	GBX 129	GBX 230	Buy	N/A
4/15/2025	IHP IntegraFin	Lower Price Target	GBX 302	GBX 400 ➝ GBX 380	Buy	N/A
4/15/2025	ATYM Atalaya Mining	Reiterated Rating	GBX 366	GBX 420	Hold	N/A
4/15/2025	ADDYY adidas	Upgrade	$111.00		Hold	Low
4/15/2025	NKE NIKE	Initiated Coverage	$56.00	$58.00	Hold	Low
4/15/2025	TBLD tinyBuild	Reiterated Rating	GBX 5	GBX 10	Buy	N/A
4/15/2025	KOO Kooth	Reiterated Rating	GBX 149	GBX 300	Buy	N/A
4/15/2025	NIOX NIOX Group	Reiterated Rating	GBX 59	GBX 90	Buy	N/A
4/15/2025	NFG Next 15 Group	Lower Price Target	GBX 233	GBX 790 ➝ GBX 660	Buy	N/A
4/15/2025	LIO Liontrust Asset Management	Lower Price Target	GBX 330	GBX 450 ➝ GBX 330	Hold	N/A
4/15/2025	VP VP	Lower Price Target	GBX 540	GBX 950 ➝ GBX 905	Buy	N/A
4/14/2025	KNOS Kainos Group	Reiterated Rating	GBX 702	GBX 1,025	Buy	N/A
4/14/2025	GGP Greatland Gold	Boost Price Target	GBX 14	GBX 11 ➝ GBX 12	Hold	N/A
4/11/2025	BMRRY B&M European Value Retail	Upgrade	$16.00		Strong-Buy	Low
4/10/2025	CODYY Compagnie de Saint-Gobain	Upgrade	$20.00		Hold ➝ Strong-Buy	Low
4/10/2025	ATM Andrada Mining	Reiterated Rating	GBX 3	GBX 11	Buy	N/A
4/10/2025	THS Tharisa	Reiterated Rating	GBX 55	GBX 130	Buy	N/A
4/10/2025	NXR Norcros	Reiterated Rating	GBX 237	GBX 350	Buy	N/A
4/10/2025	JD JD Sports Fashion	Reiterated Rating	GBX 73	GBX 128	Buy	N/A
4/9/2025	HFG Hilton Food Group	Boost Price Target	GBX 884	GBX 1,090 ➝ GBX 1,120	Buy	N/A
4/9/2025	AAL Anglo American	Reiterated Rating	GBX 2,024	GBX 2,100	Sell	N/A
4/8/2025	GAMA Gamma Communications	Boost Price Target	GBX 1,243	GBX 1,900 ➝ GBX 2,000	Buy	N/A
4/8/2025	CAML Central Asia Metals	Lower Price Target	GBX 160	GBX 200 ➝ GBX 190	Hold	N/A
4/8/2025	IPX Impax Asset Management Group	Lower Price Target	GBX 136	GBX 440 ➝ GBX 330	Buy	N/A
4/8/2025	JTC JTC	Reiterated Rating	GBX 843	GBX 1,400	Buy	N/A
4/4/2025	CURY Currys	Boost Price Target	GBX 100	GBX 125 ➝ GBX 175	Buy	N/A
4/4/2025	BUR Burford Capital	Reiterated Rating	GBX 1,044	GBX 1,600	Buy	N/A
4/2/2025	CABGY Carlsberg A/S	Upgrade	$27.00		Strong-Buy	High
4/2/2025	CCHGY Coca-Cola HBC	Upgrade	$49.00		Strong-Buy	High
4/2/2025	DVDCF Davide Campari-Milano	Upgrade	$6.00		Strong-Buy	Low
4/2/2025	HEINY Heineken	Upgrade	$45.00		Strong-Buy	High
4/2/2025	REMYY Rémy Cointreau	Upgrade	$5.00		Strong-Buy	High
4/2/2025	PRNDY Pernod Ricard	Upgrade	$21.00		Strong-Buy	N/A
4/2/2025	BUD Anheuser-Busch InBev SA/NV	Initiated Coverage	$66.00		Buy	Low
4/2/2025	SAM Boston Beer	Initiated Coverage	$239.00	$281.10	Hold	Low
4/2/2025	BF.B Brown-Forman	Initiated Coverage	$34.00	$37.50	Hold	N/A
4/2/2025	DEO Diageo	Initiated Coverage	$109.00		Buy	Low
4/2/2025	TAP Molson Coors Beverage	Initiated Coverage	$59.00	$86.90	Buy	Low
4/1/2025	CLI CLS	Reiterated Rating	GBX 60	GBX 114	Buy	N/A
4/1/2025	PETS Pets at Home Group	Lower Price Target	GBX 234	GBX 290 ➝ GBX 245	Hold	N/A
4/1/2025	PINE Pinewood Technologies Group	Reiterated Rating	GBX 310	GBX 590	Buy	N/A
3/31/2025	GYM The Gym Group	Reiterated Rating	GBX 139	GBX 195	Buy	N/A
3/31/2025	YOU YouGov	Reiterated Rating	GBX 264	GBX 760	Buy	N/A
3/31/2025	CWK Cranswick	Reiterated Rating	GBX 5,070	GBX 400	Hold	N/A
3/31/2025	AAL Anglo American	Reiterated Rating	GBX 2,024	GBX 2,000	Sell	N/A
3/31/2025	CRE Conduit	Reiterated Rating	GBX 368	GBX 700	Buy	N/A
3/27/2025	ECOR Ecora Resources	Reiterated Rating	GBX 51	GBX 130	Buy	N/A
3/26/2025	JDG Judges Scientific	Reiterated Rating	GBX 6,540	£106	Buy	N/A
3/26/2025	KMR Kenmare Resources	Reiterated Rating	GBX 410	GBX 580	Buy	N/A
3/26/2025	AZN AstraZeneca	Reiterated Rating	£101.24	GBX 140	Buy	N/A
3/26/2025	EVPL Everplay Group	Reiterated Rating	GBX 262	GBX 380	Buy	N/A
3/26/2025	ESNT Essentra	Reiterated Rating	GBX 92	GBX 170	Buy	N/A
3/25/2025	LRLCY L'Oréal	Downgrade	$77.00		Buy ➝ Hold	Low
3/25/2025	WPS W.A.G payment solutions	Reiterated Rating	GBX 61	GBX 120	Buy	N/A
3/25/2025	MBH Michelmersh Brick	Reiterated Rating	GBX 101	GBX 170	Buy	N/A
3/25/2025	IPO IP Group	Reiterated Rating	GBX 40	GBX 126	Buy	N/A
3/25/2025	COTY Coty	Initiated Coverage	$5.00	$7.50	Buy	High
3/24/2025	BOY Bodycote	Reiterated Rating	GBX 479	GBX 800	Buy	N/A
3/24/2025	PEBB The Pebble Group	Reiterated Rating	GBX 36	GBX 100	Buy	N/A
3/21/2025	EADSY Airbus	Upgrade	$40.00		Sell ➝ Hold	Low
3/20/2025	ENOG Energean	Reiterated Rating	GBX 843	GBX 940	Hold	N/A
3/20/2025	ECEL Eurocell	Reiterated Rating	GBX 152	GBX 300	Buy	N/A
3/20/2025	TUNE Focusrite	Reiterated Rating	GBX 155	GBX 355	Buy	N/A
3/19/2025	SCT Softcat	Reiterated Rating	GBX 1,584	GBX 1,600	Hold	N/A
3/19/2025	ONT Oxford Nanopore Technologies	Lower Price Target	GBX 116	GBX 282 ➝ GBX 250	Buy	N/A
3/19/2025	TRST Trustpilot Group	Reiterated Rating	GBX 207	GBX 420	Buy	N/A
3/19/2025	AMS Advanced Medical Solutions Group	Reiterated Rating	GBX 183	GBX 300	Buy	N/A
3/18/2025	BYIT Bytes Technology Group	Boost Price Target	GBX 499	GBX 640 ➝ GBX 660	Buy	N/A
3/18/2025	ATYM Atalaya Mining	Reiterated Rating	GBX 366	GBX 420	Hold	N/A
3/18/2025	QQ QinetiQ Group	Lower Price Target	GBX 396	GBX 610 ➝ GBX 500	Buy	N/A
3/18/2025	CCC Computacenter	Reiterated Rating	GBX 2,274	GBX 2,425	Hold	N/A
3/18/2025	OMVKY OMV Aktiengesellschaft	Upgrade	$12.00		Hold ➝ Strong-Buy	Low
3/17/2025	WPM Wheaton Precious Metals	Reiterated Rating	GBX 6,308	GBX 5,900	Buy	N/A
3/17/2025	BBY Balfour Beatty	Reiterated Rating	GBX 431	GBX 510	Buy	N/A
3/17/2025	HILS Hill & Smith	Reiterated Rating	GBX 1,702	GBX 2,500	Buy	N/A
3/14/2025	CURY Currys	Reiterated Rating	GBX 100	GBX 125	Buy	N/A
3/14/2025	FLTR Flutter Entertainment	Reiterated Rating	£172.55	£247	Buy	N/A
3/13/2025	ENT Entain	Boost Price Target	GBX 570	GBX 1,035 ➝ GBX 1,100	Buy	N/A
3/13/2025	PBEE PensionBee Group	Reiterated Rating	GBX 153	GBX 210	Buy	N/A
3/13/2025	HTWS Helios Towers	Reiterated Rating	GBX 106	GBX 175	Buy	N/A
3/13/2025	FAN Volution Group	Reiterated Rating	GBX 524	GBX 700	Buy	N/A
3/13/2025	NXR Norcros	Reiterated Rating	GBX 237	GBX 350	Buy	N/A
3/12/2025	FORT Forterra	Reiterated Rating	GBX 175	GBX 170	Hold	N/A
3/12/2025	HOC Hochschild Mining	Lower Price Target	GBX 316	GBX 210 ➝ GBX 200	Hold	N/A
3/12/2025	SYNT Synthomer	Downgrade	GBX 81	GBX 230 ➝ GBX 150	Hold	N/A
3/12/2025	PSN Persimmon	Reiterated Rating	GBX 1,206		Hold	N/A
3/11/2025	GLNCY Glencore	Upgrade	$7.00		Strong-Buy	High
3/11/2025	CRW Craneware	Reiterated Rating	GBX 1,585	GBX 2,800	Buy	N/A
3/11/2025	CKN Clarkson	Lower Price Target	GBX 3,225	GBX 5,075 ➝ GBX 4,800	Buy	N/A
3/10/2025	SBRE Sabre Insurance Group	Lower Price Target	GBX 127	GBX 213 ➝ GBX 210	Buy	N/A
3/10/2025	GLEN Glencore	Initiated Coverage	GBX 256	GBX 380	Buy	N/A
3/10/2025	HIK Hikma Pharmaceuticals	Reiterated Rating	GBX 1,885	GBX 2,560	Buy	N/A