>>> Europe : Brokers Upgrades & Downgrades - 19th of January 2026 V2(+)

>>> Up
* Albemarle Raised to Buy at HSBC; PT $200
* Bayer PT Raised to 55 euros from 40 euros at Morgan Stanley (+)
* Bayer PT Raised to 55 euros from 35 euros at BofA (+)
* E.On PT Raised to 19.50 euros from 18 euros at Morgan Stanley
* EssilorLuxottica Raised to Buy at CIC (+)
* Gerresheimer Raised to Outperform at Oddo BHF; PT 37 euros
* Lufthansa Raised to Neutral at BofA (+)
* Plus500 PT Raised to 4,940 pence from 3,630 pence at BofA (+)
* RWE PT Raised to 60 euros from 55 euros at Morgan Stanley
* Sagax Raised to Buy at SEB Equities; PT 234 kronor
* SBM Offshore Raised to Overweight at Barclays; PT 37.50 euros
* Spotify Raised to Buy at President Capital Management; PT $620
* Telenor Raised to Buy at Pareto Securities; PT 160 kroner
* Volvo Raised to Buy at Nordea; PT 360 kronor

>>> Down
* Atria Cut to Reduce at Inderes; PT 16 euros (+)
* Atrium Ljungberg Cut to Hold at SEB Equities; PT 37 kronor
* Banca Generali Cut to Hold at Kepler Cheuvreux (+)
* BMW Cut to Hold at Berenberg
* Enagas Cut to Sell at Deutsche Bank; PT 12 euros
* GPE Groupe Pizzorno Cut to Hold at TP ICAP Midcap (+)
* Hochschild Mining Cut to Neutral at JPMorgan; PT 670 pence
* Italgas Cut to Hold at Deutsche Bank; PT 10.30 euros
* Equinor Cut to Underperform at Grupo Santander; PT 250 kroner
* Leroy Cut to Hold at SEB Equities; PT 51 kroner
* LVMH Cut to Equal-Weight at Morgan Stanley; PT 635 euros
* Nordea Bank Cut to Reduce at OP Corporate Bank; PT 17.50 euros (+)
* Renault Cut to Hold at Berenberg; PT 38 euros
* Sika PT Cut to 143 Swiss francs at JPMorgan
* Var Energi Cut to Neutral at SB1 Markets; PT 38 kroner

>>> Initiation
* BBVA Reinstated Overweight at JPMorgan; PT 23.50 euros
* Capricorn Energy Reinstated Buy at Cavendish; PT 477.50 pence (+)
* Greencore Group Resumed Buy at Goodbody; PT 320 pence
* Raiffeisen Rated New Buy at Roemer Capital; PT 57 euros (+)
* Verisure Rated New Outperform at Grupo Santander; PT 18.35 euros
* WS WeSports Group Rated New Buy at ABG; PT 95 kronor
* WS WeSports Group Rated New Buy at DNB Carnegie; PT 91 kronor (+)

>>> Call
* Adidas Falls as BofA Sees Sales Miss, Cautious Full-Year Outlook (+)
* Banca Generali Shares Drop as Kepler Cheuvreux Cuts View to Hold (+)
* Bayer Getting US Supreme Court Hearing Is Positive, Analysts Say (+)
* Goldman’s Snider Says US Value Stocks Set for Outperformance (+)
* Gerresheimer Upgraded at Oddo BHF on Attractive Upside Potential (+)
* Autos Re-Rating Capped by China, Berenberg Cuts BMW, Renualt
* Lufthansa Raised at BofA on Trans-Atlantic Rebound; IAG Top Pick
* LVMH Downgraded as Morgan Stanley Takes ‘Pause for Breath’
* JPMorgan Sees Upside for EMEA Gold Miners, Cuts Hochschild
* Sika Price Target Cut at JPMorgan on Weaker Sales, Margins (+)
* Volvo Raised to Buy at Nordea on Improved North American Outlook (+)