>>> Europe : Brokers Upgrades & Downgrades - 14th of Sept 2026 V3(++)

>>> Up
* Antofagasta Raised to Buy at Berenberg
* Axfood Raised to Buy at Handelsbanken; PT 277 kronor
* Campari Raised to Buy at UBS; PT 7 euros
* Campari Raised to Overweight at Morgan Stanley; PT 6.50 euros
* Cembre Raised to Buy at Banca Akros (ESN); PT 100 euros (++)
* Digi Spain Telecom Rated New Add at AlphaValue/Baader (+)
* Edenred Raised to Add at AlphaValue/Baader (++)
* El.En. PT Raised to 21 euros from 19 euros at Banca Akros (++)
* FLSmidth Raised to Buy at DNB Carnegie; PT 665 kroner (++)
* Fortum Raised to Hold at Deutsche Bank; PT 24 euros
* Hoegh Autoliners Raised to Buy at Pareto Securities
* IREN Ltd Raised to Overweight at JPMorgan; PT $65
* Persimmon Raised to Outperform at Davy (+)
* Renault Raised to Equal-Weight at Morgan Stanley
* Robertet Raised to Buy at TP ICAP Midcap; PT 896 euros
* SpaceX PT Raised to $142 from $131 at MoffettNathanson LLC (++)
* Standard Chartered Raised to Outperform at KBW; PT 2,510 pence
* Straumann Raised to Buy at Goldman; PT 125 Swiss francs
* Telia Raised to Hold at Handelsbanken
* Vetoquinol Raised to Buy at TP ICAP Midcap; PT 86 euros
* ZIM Integrated Shipping Raised to Equal-Weight at Barclays

>>> Down
* Adidas Cut to Neutral at Baird; PT 165 euros
* Accenture Cut to Equal-Weight at Wells Fargo; PT $194
* Altea Green Power Cut to Hold at Equita; PT 7.50 euros (++)
* Barratt Redrow Cut to Hold at Stifel; PT 290 pence (+)
* Carlsberg Cut to Hold at Jefferies; PT 950 kroner
* Crown Castle Cut to Underweight at JPMorgan; PT $80 (+)
* Dick's Sporting Cut to Neutral at Baird; PT $150
* Elisa Cut to Sell at Handelsbanken; PT 35.50 euros
* HP Enterprise Cut to Inline at Evercore ISI; PT $65
* HSBC Cut to Market Perform at KBW; PT 1,620 pence
* MARA Holdings Cut to Underweight at JPMorgan; PT $11 (+)
* M. Vest Water Cut to Hold at Norne Securities; PT 7 kroner (++)
* Nike Cut to Neutral at Baird; PT $44
* Rocky Brands Cut to Neutral at Baird; PT $50
* Salmon Evolution Cut to Hold at Kepler Cheuvreux; PT 3.40 kroner (++)
* Stellantis Cut to Underweight at Morgan Stanley
* Trainline Cut to Underweight at Barclays; PT 190 pence
* UniCredit PT Raised to 113 euros from 100 euros at BofA (++)
* VF Corp Cut to Neutral at Baird; PT $15
* Wavestone Cut to Hold at Kepler Cheuvreux; PT 33 euros (++)

>>> Initiation
* 2G Energy Rated New Buy at Berenberg; PT 91 euros
* Fox Corp Rated New Market Outperform at Citizens; PT $95
* Huber + Suhner initiated with a Buy at Jefferies
* Lionsgate Studios Rated New Market Outperform at Citizens
* OEM International Rated New Buy at Nordea; PT 225 kronor
* On Holding Rated New Buy at Berenberg; PT $38
* Paramount Rated New Market Outperform at Citizens; PT $14
* Seche Environnement Rated New Buy at Marex; PT 150 euros (++)
* Starz Entertainment Rated New Market Outperform at Citizens

>>> Call
* Axfood Gains as Handelsbanken Upgrades on Valuation Support (++)
* Campari Gains as Morgan Stanley Raises to Overweight on Strategy (++)
* Carlsberg Volume Growth Trails Peers, Cut to Hold at Jefferies
* Fortum Upgraded at Deutsche Bank on Google ‘Dream’ Deal (++)
* GlobalData Drops Most Since 2009 as JPMorgan Notes Outlook Reset (++)
* Huber+Suhner ‘Ticking all the Boxes,’ New Buy at Jefferies
* Morgan Stanley Sees European Earnings Resilient to Gas Spike (+)
* Renault Raised, Stellantis Cut at Morgan Stanley in EU Autos
* Straumann Upgraded at Goldman on Ebit, Free Cash Flow Growth (+)
* Trainline Cut to Underweight at Barclays on Limited Growth
* US Quality Stocks Set to Outperform On Fed Hike: Morgan Stanley (++)