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
3/21/2025	EADSY Airbus	Upgrade	$45.00		Sell ➝ Hold	Low
3/20/2025	ENOG Energean	Reiterated Rating	GBX 872	GBX 940	Hold	N/A
3/20/2025	ECEL Eurocell	Reiterated Rating	GBX 166	GBX 300	Buy	N/A
3/20/2025	TUNE Focusrite	Reiterated Rating	GBX 161	GBX 355	Buy	N/A
3/19/2025	SCT Softcat	Reiterated Rating	GBX 1,647	GBX 1,600	Hold	N/A
3/19/2025	ONT Oxford Nanopore Technologies	Lower Price Target	GBX 112	GBX 282 ➝ GBX 250	Buy	N/A
3/19/2025	TRST Trustpilot Group	Reiterated Rating	GBX 230	GBX 420	Buy	N/A
3/19/2025	AMS Advanced Medical Solutions Group	Reiterated Rating	GBX 197	GBX 300	Buy	N/A
3/18/2025	BYIT Bytes Technology Group	Boost Price Target	GBX 489	GBX 640 ➝ GBX 660	Buy	N/A
3/18/2025	ATYM Atalaya Mining	Reiterated Rating	GBX 357	GBX 420	Hold	N/A
3/18/2025	QQ QinetiQ Group	Lower Price Target	GBX 373	GBX 610 ➝ GBX 500	Buy	N/A
3/18/2025	CCC Computacenter	Reiterated Rating	GBX 2,610	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 5,768	GBX 5,900	Buy	N/A
3/17/2025	HILS Hill & Smith	Reiterated Rating	GBX 1,896	GBX 2,500	Buy	N/A
3/17/2025	BBY Balfour Beatty	Reiterated Rating	GBX 451	GBX 510	Buy	N/A
3/14/2025	CURY Currys	Reiterated Rating	GBX 91	GBX 125	Buy	N/A
3/14/2025	FLTR Flutter Entertainment	Reiterated Rating	£183.75	£247	Buy	N/A
3/13/2025	ENT Entain	Boost Price Target	GBX 654	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 103	GBX 175	Buy	N/A
3/13/2025	FAN Volution Group	Reiterated Rating	GBX 567	GBX 700	Buy	N/A
3/13/2025	NXR Norcros	Reiterated Rating	GBX 229	GBX 350	Buy	N/A
3/12/2025	FORT Forterra	Reiterated Rating	GBX 159	GBX 170	Hold	N/A
3/12/2025	HOC Hochschild Mining	Lower Price Target	GBX 257	GBX 210 ➝ GBX 200	Hold	N/A
3/12/2025	SYNT Synthomer	Downgrade	GBX 117	GBX 230 ➝ GBX 150	Hold	N/A
3/12/2025	PSN Persimmon	Reiterated Rating	GBX 1,189		Hold	N/A
3/11/2025	GLNCY Glencore	Upgrade	$8.00		Strong-Buy	High
3/11/2025	CRW Craneware	Reiterated Rating	GBX 1,850	GBX 2,800	Buy	N/A
3/11/2025	CKN Clarkson	Lower Price Target	GBX 3,520	GBX 5,075 ➝ GBX 4,800	Buy	N/A
3/10/2025	SBRE Sabre Insurance Group	Lower Price Target	GBX 125	GBX 213 ➝ GBX 210	Buy	N/A
3/10/2025	GLEN Glencore	Initiated Coverage	GBX 299	GBX 380	Buy	N/A
3/10/2025	HIK Hikma Pharmaceuticals	Reiterated Rating	GBX 2,020	GBX 2,560	Buy	N/A
3/10/2025	GFTU Grafton Group	Reiterated Rating	GBX 868	GBX 1,100	Buy	N/A
3/10/2025	SXS Spectris	Lower Price Target	GBX 2,458	GBX 3,180 ➝ GBX 3,000	Buy	N/A
3/10/2025	BAESY BAE Systems	Downgrade	$84.00		Strong-Buy ➝ Hold	Low
3/10/2025	BCKIY Babcock International Group	Upgrade	$9.00		Hold ➝ Strong-Buy	Low
3/7/2025	FNLPF Fresnillo	Upgrade	$12.00		Hold ➝ Strong-Buy	Low
3/6/2025	HTG Hunting	Boost Price Target	GBX 294	GBX 480 ➝ GBX 490	Buy	N/A
3/6/2025	BREE Breedon Group	Boost Price Target	GBX 474	GBX 540 ➝ GBX 590	Buy	N/A
3/6/2025	FRES Fresnillo	Upgrade	GBX 917	GBX 840 ➝ GBX 1,020	Buy	N/A
3/6/2025	KMR Kenmare Resources	Reiterated Rating	GBX 426	GBX 350	Hold	N/A
3/6/2025	COA Coats Group	Reiterated Rating	GBX 83	GBX 135	Buy	N/A
3/6/2025	EDV Endeavour Mining	Reiterated Rating	GBX 1,725	GBX 2,100	Buy	N/A
3/5/2025	ITRK Intertek Group	Boost Price Target	GBX 4,894	GBX 5,800 ➝ GBX 6,000	Buy	N/A
3/5/2025	CTEC ConvaTec Group	Reiterated Rating	GBX 257	GBX 310	Buy	N/A
3/5/2025	GRG Greggs	Lower Price Target	GBX 1,789	GBX 3,420 ➝ GBX 3,250	Buy	N/A
3/3/2025	CLZNY Clariant	Downgrade	$13.00		Strong-Buy ➝ Hold	High
3/3/2025	DASTY Dassault Systèmes	Upgrade	$42.00		Hold ➝ Strong-Buy	Low
2/28/2025	CRH CRH	Set Price Target	$95.00	$120.00		Medium
2/28/2025	HLN Haleon	Boost Price Target	GBX 393	GBX 456 ➝ GBX 457	Buy	N/A
2/28/2025	SMWH WH Smith	Reiterated Rating	GBX 1,055	GBX 1,600	Buy	N/A
2/25/2025	CWR Ceres Power	Lower Price Target	GBX 66	GBX 650 ➝ GBX 340	Buy	N/A
2/24/2025	LGEN Legal & General Group	Reiterated Rating	GBX 241	GBX 265	Buy	N/A
2/24/2025	MAB1 Mortgage Advice Bureau	Initiated Coverage	GBX 724	GBX 1,150	Buy	N/A
2/20/2025	RIO Rio Tinto Group	Reiterated Rating	GBX 4,757	GBX 6,300	Buy	N/A
2/19/2025	SHEL Shell	Reiterated Rating	GBX 2,727	GBX 3,250	Buy	N/A
2/19/2025	WPM Wheaton Precious Metals	Reiterated Rating	GBX 5,768	GBX 5,800	Buy	N/A
2/19/2025	TRCS Tracsis	Reiterated Rating	GBX 382	GBX 1,150	Buy	N/A
2/19/2025	BA BAE Systems	Reiterated Rating	GBX 1,596	GBX 1,440	Buy	N/A
2/19/2025	TATYY Tate & Lyle	Downgrade	$27.00		Strong-Buy ➝ Hold	Low
2/18/2025	ADT1 Adriatic Metals	Reiterated Rating	GBX 216	GBX 180	Hold	N/A
2/18/2025	TATE Tate & Lyle	Downgrade	GBX 533	GBX 900 ➝ GBX 600	Hold	N/A
2/18/2025	BHP BHP Group	Reiterated Rating	GBX 1,890	GBX 1,900	Hold	N/A
2/18/2025	AAL Anglo American	Reiterated Rating	GBX 2,256	GBX 2,100	Sell	N/A
2/18/2025	BASFY Basf	Downgrade	$14.00		Buy ➝ Hold	Low
2/18/2025	SQZ Serica Energy	Reiterated Rating	GBX 125	GBX 200	Buy	N/A
2/17/2025	PHNX Phoenix Group	Reiterated Rating	GBX 576	GBX 650	Buy	N/A
2/17/2025	MONY Mony Group	Boost Price Target	GBX 200	GBX 290 ➝ GBX 300	Buy	N/A
2/14/2025	GVDNY Givaudan	Upgrade	$88.00		Hold ➝ Strong-Buy	Low
2/12/2025	CRE Conduit	Reiterated Rating	GBX 355	GBX 700	Buy	N/A
2/12/2025	TRN Trainline	Reiterated Rating	GBX 280	GBX 490	Buy	N/A
2/12/2025	BTRW Barratt Redrow	Reiterated Rating	GBX 420	GBX 540	Hold	N/A
2/10/2025	POAHY Porsche Automobil	Downgrade	$4.00		Strong-Buy ➝ Hold	Low
2/6/2025	AAL Anglo American	Reiterated Rating	GBX 2,256	GBX 2,100	Sell	N/A
2/6/2025	CPG Compass Group	Reiterated Rating	GBX 2,422	GBX 2,960	Buy	N/A
2/4/2025	YOU YouGov	Lower Price Target	GBX 307	GBX 810 ➝ GBX 760	Buy	N/A
2/3/2025	IOT Samsara	Initiated Coverage	$40.00	$57.00	Hold	High
1/30/2025	SMMNY Siemens Healthineers	Upgrade	$28.00		Strong-Buy	Low
1/29/2025	ADT1 Adriatic Metals	Reiterated Rating	GBX 216	GBX 220	Buy	N/A
1/29/2025	HIK Hikma Pharmaceuticals	Boost Price Target	GBX 2,020	GBX 2,400 ➝ GBX 2,560	Buy	N/A
1/29/2025	APH Alliance Pharma	Downgrade	GBX 64	GBX 7,000 ➝ GBX 6,250	Hold	N/A
1/29/2025	MITFY Mitie Group	Upgrade	$6.00		Strong-Buy	Low
1/29/2025	TRCS Tracsis	Reiterated Rating	GBX 382	GBX 1,150	Buy	N/A
1/29/2025	CWR Ceres Power	Reiterated Rating	GBX 66	GBX 650	Buy	N/A
1/29/2025	AGL ANGLE	Reiterated Rating	GBX 9	GBX 40	Buy	N/A
1/28/2025	MTO Mitie Group	Initiated Coverage	GBX 113	GBX 160	Buy	N/A
1/28/2025	CLI CLS	Reiterated Rating	GBX 70	GBX 114	Buy	N/A
1/28/2025	CCC Computacenter	Reiterated Rating	GBX 2,610	GBX 2,425	Hold	N/A
1/28/2025	YCA Yellow Cake	Reiterated Rating	GBX 458	GBX 712	Buy	N/A
1/28/2025	STEM SThree	Reiterated Rating	GBX 270	GBX 390	Buy	N/A
1/28/2025	IDOX IDOX	Reiterated Rating	GBX 59	GBX 81	Buy	N/A
1/28/2025	LORD Lords Group Trading	Lower Price Target	GBX 25	GBX 90 ➝ GBX 80	Buy	N/A
1/27/2025	DFS DFS Furniture	Reiterated Rating	GBX 137	GBX 185	Buy	N/A
1/27/2025	AZN AstraZeneca	Reiterated Rating	£116.08	GBX 140	Buy	N/A
1/24/2025	SHW Sherwin-Williams	Upgrade	$334.00	$321.00 ➝ $420.00	Hold ➝ Buy	High
1/23/2025	KIE Kier Group	Reiterated Rating	GBX 122	GBX 210	Buy	N/A
1/23/2025	PFD Premier Foods	Reiterated Rating	GBX 185	GBX 240	Buy	N/A
1/23/2025	BHP BHP Group	Reiterated Rating	GBX 1,890	GBX 1,900	Hold	N/A
1/22/2025	MSLH Marshalls	Reiterated Rating	GBX 245	GBX 420	Buy	N/A