>>> Europe : Brokers Upgrades & Downgrades - 19th of February 2026 V3(++)

>>> Up
* Aramis Raised to Overweight at Morgan Stanley; PT 5 euros
* Capgemini Raised to Equal-Weight at Morgan Stanley; PT 117 euros
* DWS Raised to Buy at UBS; PT 70 euros
* FLSmidth PT Raised to 710 kroner from 550 kroner at JPMorgan
* Garmin Raised to Equal-Weight at Morgan Stanley; PT $252
* Gofore Raised to Accumulate at Inderes; PT 13 euros
* T-Mobile Raised to Outperform at Daiwa; PT $240
* Truecaller Raised to Buy at Deutsche Bank; PT 15 kronor
* Vonovia Raised to Equal-Weight at Morgan Stanley; PT 30 euros
* ZIM Integrated Shipping Raised to Neutral at Citi; PT $31.80

>>> Down
* Aena Cut to Neutral at Grupo Santander; PT 28.70 euros (++)
* Allfunds Cut to Hold at Bestinver; PT 8.80 euros
* Arvo Sijoitusosuuskunta Cut to Reduce at Inderes; PT 83 euros
* BASF Cut to Underweight at Barclays; PT 40 euros
* Bravida Cut to Hold at Pareto Securities; PT 112 kronor
* Casta Diva Cut to Hold at TP ICAP Midcap; PT 2.80 euros (++)
* Ebro Foods Cut to Hold at Intermoney Valores; PT 20 euros
* Enea Cut to Neutral at Citi; PT 25.40 zloty
* FLSmidth Cut to Sell at Danske Bank Markets; PT 545 kroner (++)
* Freenet Cut to Sell at UBS; PT 28.50 euros
* Maire Cut to Hold at Kepler Cheuvreux (+)
* MLLCB FP Cut to Neutral at Greensome Finance; PT 2.71 euros (++)
* Polestar ADRs Cut to Underweight at Cantor
* Regional REIT Cut to Hold at Peel Hunt; PT 105 pence (++)
* Schroders Cut to Neutral at UBS; PT 590 pence
* Sensirion PT Cut to 70 Swiss francs at Berenberg (++)
* Sobi Cut to Hold at Danske Bank Markets (++)
* Strabag Cut to Accumulate at Erste Group; PT 108.90 euros
* VGP Cut to Accumulate at KBC Securities; PT 125 euros (++)
* Witted Megacorp Cut to Accumulate at Inderes; PT 1.70 euros
* Wizz Air Cut to Underperform at Santander Biuro Maklerskie (+)

>>> Initiation
* 74Software SA Rated New Buy at Berenberg; PT 44 euros

>>> Call
* Alcon Rises On JPMorgan Positive Catalyst Watch Before Results (++)
* BASF Cut at Barclays on High Valuation and Overdone Optimism (+)
* DWS Upgraded to Buy at UBS on Dividend Outlook; Target €70 (+)
* FlatexDEGIRO Guidance Targets Appear Cautious, Analysts Say
* Maire Slides as Kepler Cheuvreux Downgrades on Earnings Caution (++)
* Truecaller Extends Rebound as Deutsche Bank Raises to Buy (++)
* Zurich Ins. Earnings Could Be Offset by Equity Raise: Jefferies