>>> Europe : Brokers Upgrades & Downgrades - 18th of February 2026

>>> Up
* Demant Raised to Buy at Nordea; PT 230 kroner
* Molten Ventures Raised to Overweight at Barclays; PT 575 pence
* Porsche Raised to Neutral at Grupo Santander; PT 43.70 euros
* Stubhub Raised to Neutral at Citi; PT $9

>>> Down
* 4c Group Cut to Hold at ABG; PT 10 kronor
* BASF Cut to Neutral at Grupo Santander; PT 52.50 euros
* CNH Industrial Cut to Underperform at Mediobanca SpA; PT $10.50
* Legal & General Cut to Neutral at BNP Paribas; PT 280 pence
* Schindler Cut to Neutral at BofA
* Toro Cut to Market Perform at Raymond James
* Truecaller Cut to Hold at ABG; PT 15 kronor
* Truecaller Cut to Hold at Nordea
* Unilever Cut to Hold at Berenberg; PT 5,840 pence

>>> Initiation
* ABN Amro GDRs Resumed Buy at Citi; PT 36.60 euros
* Costco Reinstated Buy at William O'Neil
* Prosus Rated New Overweight at ABSA Securities; PT 58.03 euros

>>> Call
* ABN Amro Resumed Buy at Citi on Re-Rating Potential, EPS Upside
* Duerr Order Intake, Ebit Beats Expectations, Bernstein Says
* Unilever Downgraded at Berenberg on Completion of Transformation