>>> Europe : Brokers Upgrades & Downgrades - 13th of July 2026

>>> Up
* American Express Raised to Overweight at JPMorgan; PT $400
* DocMorris Raised to Buy at Deutsche Bank; PT 11.50 Swiss francs
* Shopify Raised to Buy at Jefferies; PT C$225.98

>>> Down
* AstraZeneca Cut to Hold at HSBC; PT 13,750 pence
* Huhtamaki Cut to Hold at SEB Equities; PT 27 euros
* Klarabo Sverige Cut to Neutral at SB1 Markets; PT 14.10 kronor
* Logista Cut to Neutral at Oddo BHF; PT 34.50 euros

>>> Initiation
* Capita Reinstated Buy at Investec; PT 325 pence
* Costco Rated New Sector Perform at RBC; PT $1,000
* Epiroc Rated New Buy at SB1 Markets; PT 320 kronor
* Femsa ADRs Rated New Underperform at Baptista Research
* GE Vernova Rated New Neutral at Fubon; PT $1,205
* Honeywell Aerospace Rated New Inline at Evercore ISI; PT $250
* Jardine Matheson Rated New Buy at DBS Bank; PT $90
* Sandvik Rated New Neutral at SB1 Markets; PT 400 kronor

>>> Call
* Goldman Sees Nifty Rising 10% by June as India Outlook Improves