>>> Europe : Brokers Upgrades & Downgrades - 19th of Aug 2026

>>> Up
* Ferrovial NV Raised to Outperform at Mediobanca SpA; PT 65 euros
* Kingspan Raised to Buy at UBS; PT 130 euros

>>> Down
* Baidu ADRs Cut to Underweight at Morgan Stanley; PT $80
* Cellnex Cut to Neutral at UBS; PT 29.50 euros
* Multiconsult Cut to Neutral at SB1 Markets; PT 160 kroner
* Netum Group Cut to Sell at Inderes; PT 85 euro cents
* Solstad Maritime Cut to Neutral at SB1 Markets; PT 30 kroner

>>> Initiation
* BioMarin Rated New Outperform at BMO
* Infracore Rated New Buy at Citi; PT 64 Swiss francs
* IREN Ltd Rated New Outperform at CCB Intl; PT $57

>>> Call