>>> Europe : Brokers Upgrades & Downgrades - 14th of May 2026

>>> Up
* Bavarian Nordic Price Target Raised to DKK 290 from DKK 285 by SEB
* Epiroc Raised to Buy at Goldman; PT 315 kronor
* Micron PT Raised to $950 at BofA on Strong Demand Outlook
* Orsted Raised to Overweight at Morgan Stanley; PT 225 kroner
* QT Group Raised to Buy at SEB Equities; PT 28 euros
* Siemens PT Raised to 335 euros from 325 euros at JPMorgan
* Siemens Price Target Raised to EUR 300 from EUR 295 by Bank of America
* Torm Price Target Raised to DKK 248 from DKK 231 by SEB
* Whirlpool Raised to Buy at CFRA

>>> Down
* Adecco PT Cut to 13.50 Swiss francs at Jefferies
* Birkenstock PT Cut to $50 from $55 at Piper Sandler
* Birkenstock PT Cut to $51 from $56 at Stifel
* Carl Zeiss Meditec Price Target Cut to EUR 28 from EUR 31 by Goldman Sachs
* Veidekke Price Target Cut to NOK 191 from NOK 202 by SEB
* Vistry Group Cut to Hold at Stifel; PT 340 pence
* Vodafone Cut to Hold at DZ Bank; PT 120 pence
* Whirlpool Cut to Neutral at Goldman; PT $53
* WH Smith PT Cut to 520 pence from 640 pence at Goodbody
* Wix.com Cut to Sector Perform at RBC; PT $60
* Workspace Cut to Hold at Peel Hunt; PT 350 pence

>>> Initiation
* AST SpaceMobile Rated New Neutral at New Street Research; PT $80
* Brightstar Lottery Reinstated Neutral at BNP Paribas; PT $12.60
* Cambridge Cognition Reinstated Buy at Cavendish; PT 72 pence
* DraftKings Reinstated Underperform at BNP Paribas; PT $20
* Entain Reinstated Outperform at BNP Paribas; PT 710 pence
* Evolution Reinstated Outperform at BNP Paribas; PT 740 kronor
* Flutter Reinstated Underperform at BNP Paribas; PT $80
* Iridium Communications Rated New Neutral at New Street Research
* Lottomatica Reinstated Outperform at BNP Paribas; PT 33 euros
* Telesat Rated New Sell at New Street Research; PT C$41.11
* Viasat Rated New Buy at New Street Research

>>> Call
* DraftKings Gets Only Sell View as BNP Paribas Sees Earnings Risk
* Morgan Stanley Likes Utilities on Energy Security, Orsted Raised
* Siemens PT Raised to Street High at JPMorgan on Growth, Demand
* RBC Expects Volkswagen to Book IEEPA Tariff Benefits in Q2