>>> Europe : Brokers Upgrades & Downgrades - 11th of February 2026 V2(+)

>>> Up
* ArcelorMittal ADRs Raised to Buy at Jefferies; PT $73.20
* ArcelorMittal Raised to Buy at Jefferies; PT 62 euros
* B&M European Raised to Buy at Peel Hunt; PT 250 pence
* BAE Raised to Add at AlphaValue/Baader
* Daimler Truck PT Raised to 50.50 euros from 39.90 euros at Citi
* Dunelm Raised to Overweight at JPMorgan; PT 1,225 pence
* EasyJet Raised to Buy at Citi; PT 600 pence
* FEVERTREE RAISED TO OVERWEIGHT AT BARCLAYS, PT 1,270P
* Remedy Entertainment Raised to Buy at Inderes; PT 19 euros
* Verbio SE Raised to Buy at Deutsche Bank; PT 29.40 euros
* Wacker Chemie Raised to Buy at Berenberg; PT 96 euros

>>> Down
* Alleima Cut to Sell at ABG; PT 69 kronor
* AMS-Osram Cut to Hold at Deutsche Bank; PT 9.50 Swiss francs
* AMS-Osram Raised to Hold at Kepler Cheuvreux
* ArcelorMittal Cut to Hold at Renta 4; PT 56 euros (+)
* Borr Drilling Cut to Hold at Fearnley; PT $5.60 (+)
* Carlsberg Cut to Hold at Jyske Bank; PT 1,000 kroner
* Drax Cut to Neutral at Citi; PT 923 pence
* Mattel Cut to Underweight at JPMorgan; PT $14
* Millicom Cut to Sector Underperform at Scotiabank; PT $43
* MOL Cut to Neutral at UBS; PT 4,200 forint
* Multiconsult Cut to Hold at Nordea
* Nilfisk Cut to Hold at Nordea
* Noble Corp. Cut to Hold at Fearnley; PT $38 (+)
* Norwegian Cruise Cut to Equal-Weight at Barclays; PT $23
* Royal Unibrew Cut to Hold at Jyske Bank; PT 650 kroner (+)
* Safestore Cut to Equal-Weight at Barclays; PT 870 pence
* Sats Cut to Hold at Kepler Cheuvreux
* Seadrill Cut to Hold at Fearnley; PT $43 (+)
* Unicaja Cut to Hold at Kepler Cheuvreux
* Wendel Cut to Neutral at Oddo BHF; PT 100 euros
* Wihlborgs Cut to Hold at ABG; PT 100 kronor

>>> Initiation
* Accsys Tech Reinstated Buy at Canaccord; PT 130 pence (+)
* Bouygues Rated New Outperform at BNP Paribas; PT 55 euros
* EnQuest Rated New Buy at Cavendish; PT 26 pence (+)
* Iberdrola Rated New Neutral at Rothschild & Co Redburn
* Verve Group Rated New Buy at Berenberg; PT 5 euros

>>> Call
* ArcelorMittal Raised at Jefferies on Stronger Steel Outlook
* Dunelm Showing Signs of Improvement, JPMorgan Upgrades
* EasyJet Upgraded to Buy as Citi Sees Inflection Point
* Fevertree Upgraded at Barclays on US Execution, Favorable Trends
* TKMS Should Outperform After Sales Growth Target Hike, Says Citi (+)
* Wacker Chemie Upgraded at Berenberg, Sees Room For Further Rally