Cheuvreux Stock Recommendations and Price Targets

This is a list of recent ratings by Cheuvreux.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
12/14/2022	CYJBF Cargotec	Downgrade	$84.00		Buy ➝ Hold	Low
11/9/2022	DRPRF Dr. Ing. h.c. F. Porsche	Initiated Coverage	€59.00	€106.00	Hold	N/A
11/1/2022	TTALF Terveystalo Oyj	Downgrade	€13.00	€6.50	Buy ➝ Hold	N/A
10/31/2022	QNNTF Quantum Genomics Société Anonyme	Downgrade	$0.00		Buy ➝ Hold	N/A
10/31/2022	SAFRY Safran	Downgrade	€54.00	€117.00	Buy ➝ Hold	Low
10/28/2022	TIIAY Telecom Italia	Downgrade	€2.00	€0.22	Buy ➝ Hold	Low
10/28/2022	HLN Haleon	Initiated Coverage	GBX 378	GBX 275	Hold	Low
10/28/2022	RXLSF Rexel	Upgrade	$25.00		Hold ➝ Buy	N/A
10/28/2022	ADDYY adidas	Downgrade	$120.00		Buy ➝ Hold	Low
10/28/2022	NXPRF Nexans	Downgrade	$112.00		Buy ➝ Hold	Low
10/5/2022	GRRMF Gerresheimer	Upgrade	$70.00		Hold ➝ Buy	Low
9/9/2022	NNGRY NN Group	Downgrade	€22.00	€45.00	Buy ➝ Hold	Low
8/26/2022	WILYY Demant A/S	Downgrade	19.00	290.00 ➝ 215.00	Hold ➝ Reduce	Low
8/26/2022	IPSEY Ipsen	Upgrade	€29.00	€110.00	Hold ➝ Buy	Low
8/24/2022	POFCY Petrofac	Downgrade	GBX 0	GBX 140	Buy ➝ Hold	Low
8/24/2022	SNY Sanofi	Downgrade	$48.00		Buy ➝ Hold	Low
7/26/2022	ETCMY Eutelsat Group	Downgrade	$1.00		Buy ➝ Hold	Low
7/26/2022	ECIFY Electricité de France	Downgrade	€3.00	€12.00	Buy ➝ Hold	Low
7/22/2022	NOK Nokia Oyj	Downgrade	$4.00		Buy ➝ Hold	Low
7/21/2022	HLFFF HelloFresh	Downgrade	$12.00		Buy ➝ Hold	Low
7/15/2022	ERIC Telefonaktiebolaget LM Ericsson (publ)	Downgrade	$8.00		Buy ➝ Hold	Low
7/11/2022	AEXAY Atos	Downgrade	€0.00	€16.00	Buy ➝ Hold	N/A
7/11/2022	ONXXF Ontex Group	Downgrade	$9.00		Hold ➝ Reduce	N/A
7/11/2022	BVRDF Bureau Veritas	Downgrade	€31.00	€27.00	Buy ➝ Hold	N/A
7/11/2022	UBLXF u-blox	Upgrade	CHF 83	CHF 130	Hold ➝ Buy	N/A
7/6/2022	EMSHF EMS-CHEMIE	Upgrade	$704.00		Reduce ➝ Hold	N/A
7/5/2022	TMRAY Tomra Systems ASA	Initiated Coverage	$13.00		Buy	N/A
7/5/2022	FLMNF Fielmann Group	Downgrade	$43.00		Buy ➝ Hold	N/A
6/30/2022	AVACF Avance Gas	Upgrade	8.00	71.00	Hold ➝ Buy	Low
6/24/2022	ISMAY Indra Sistemas	Downgrade	$9.00		Buy ➝ Hold	Low
6/15/2022	TSDOF Tessenderlo Group	Upgrade	$27.00		Reduce ➝ Hold	Low
6/14/2022	FLGZY Flughafen Zürich	Downgrade	$10.00		Buy ➝ Hold	High
6/14/2022	VLEEY Valeo	Downgrade	$5.00		Hold ➝ Reduce	High
6/14/2022	BURBY Burberry Group	Downgrade	GBX 12	GBX 1,650	Buy ➝ Hold	Medium
6/13/2022	GNGBY Getinge AB (publ)	Downgrade	SEK 16	SEK 435 ➝ SEK 280	Buy ➝ Hold	Low
6/10/2022	ARZTF Aryzta	Upgrade	$2.00		Hold	Low
6/8/2022	RACE Ferrari	Upgrade	$417.00		Reduce ➝ Hold	Low
6/2/2022	OEZVY Verbund	Upgrade	$16.00		Reduce ➝ Hold	Low
5/23/2022	TGSNF Tgs Asa	Upgrade	10.00	155.00	Reduce ➝ Hold	Low
5/20/2022	SBOEF Schoeller-Bleckmann Oilfield Equipment Aktiengesellschaft	Upgrade	$50.00		Hold ➝ Buy	Low
5/16/2022	RPYTF Reply	Upgrade	€156.00	€119.00	Reduce ➝ Hold	N/A
5/13/2022	PSTNY PostNL	Upgrade	€1.00	€3.00	Reduce ➝ Hold	Low
5/13/2022	NRDXF Nordex	Downgrade	$12.00		Hold ➝ Reduce	Low
5/13/2022	HPGLY Hapag-Lloyd Aktiengesellschaft	Downgrade	$82.00		Buy ➝ Reduce	High
5/3/2022	SEGXF SEGRO	Downgrade	GBX 8	GBX 1,240	Hold ➝ Reduce	High
5/3/2022	ELUXY AB Electrolux (publ)	Upgrade	SEK 16	SEK 150 ➝ SEK 200	Reduce ➝ Buy	High
4/26/2022	CODYY Compagnie de Saint-Gobain	Upgrade	€17.00	€75.00	Hold ➝ Buy	Medium
4/20/2022	SVKEF Skandinaviska Enskilda Banken AB (publ)	Upgrade	SEK 13	SEK 134	Hold ➝ Buy	N/A
4/4/2022	SFRGY Salvatore Ferragamo	Downgrade	$4.00		Hold ➝ Reduce	Low
3/25/2022	KLKNF Klöckner & Co SE	Upgrade	$5.00		Hold ➝ Buy	N/A
3/25/2022	ARSUF Fagron	Upgrade	€20.00	€17.50 ➝ €21.00	Hold ➝ Buy	N/A
2/28/2022	SRAIF Stadler Rail	Downgrade	$23.00		Hold ➝ Reduce	N/A