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

>>> Up
* Granges Raised to Buy at Nordea; PT 210 kronor
* Orsted Raised to Buy at ABG; PT 180 kroner
* RENK Group Raised to Buy at Goldman; PT 65 euros
* Soitec Raised to Overweight at Barclays; PT 200 euros
* Stubhub Raised to Buy at Citi; PT $7

>>> Down
* Bankinter Cut to Hold at Bestinver; PT 16.85 euros
* Orange Cut to Underweight at Morgan Stanley; PT 15 euros

>>> Initiation
* Admiral Rated New Outperform at BNP Paribas; PT 4,800 pence
* Aviva Rated New Outperform at BNP Paribas; PT 800 pence
* Legal & General Rated New Underperform at BNP Paribas
* M&G Rated New Neutral at BNP Paribas; PT 340 pence
* TKMS AG & Co KGaA Rated New Buy at Stifel; PT 105 euros

>>> Call