>>> Europe : Brokers Upgrades & Downgrades - 1st of April 2026 V(+)

>>> Up
* ACS Raised to Buy at UBS; PT 120 euros
* Babcock Raised to Buy at Citi; PT 1,554 pence
* Bank of America Raised to Buy at HSBC; PT $55
* Barratt Redrow Raised to Outperform at RBC; PT 350 pence
* Beijer Alma Raised to Buy at Nordea; PT 282 kronor
* Berkeley Raised to Sector Perform at RBC; PT 3,900 pence
* Engie Raised to Overweight at JPMorgan; PT 31.50 euros
* Eni Raised to Reduce at AlphaValue/Baader
* Ferrari Raised to Buy at Jefferies; PT 350 euros
* GE Vernova PT Raised to $993 from $849 at Barclays (+)
* Heineken Raised to Buy at HSBC; PT 85 euros
* K+S Raised to Reduce at AlphaValue/Baader (+)
* Leonardo Raised to Buy at Citi; PT 69 euros
* Magellan Aerospace Raised to Buy at Paradigm Capital; PT C$28.50
* Moderna PT Raised to $48 from $25 at Barclays (+)
* Orion Raised to Buy at Inderes; PT 80 euros
* Orsted Raised to Equal-Weight at Barclays; PT 160 kroner
* Thule Raised to Hold at SEB Equities; PT 220 kronor
* TKMS Raised to Buy at Citi; PT 100 euros
* Unibail Raised to Overweight at JPMorgan; PT 115 euros
* Viscom Raised to Buy at mwb research AG (+)
* Wells Fargo Raised to Buy at HSBC; PT $94

>>> Down
* CLS Holdings Cut to Reduce at Peel Hunt; PT 45 pence
* Equinor Cut to Sell at SEB Equities; PT 366 kroner
* Friedrich Vorwerk Group PT Cut to 60 euros at mwb research AG (+)
* Future Plc Cut to Equal-Weight at Barclays; PT 285 pence
* Future Plc Cut to Hold at Berenberg; PT 330 pence
* Galp Cut to Neutral at JB Capital Markets; PT 20.70 euros (+)
* Nike PT Cut to $56 from $65 at Stifel (+)
* Pony AI ADRs Rated New Buy at HSBC; PT $16.60
* INWIT to Report Results; Shares Down 11.5% YTD: Preview (+)
* Viridien Cut to Hold at Arctic Securities; PT 145 euros
* WeRide ADRs Rated New Buy at HSBC; PT $11.40

>>> Initiation
* Airbus Rated New Equal-Weight at Wells Fargo; PT 175 euros
* Celestica Rated New Positive at Susquehanna; PT C$521.03 (+)
* *CONSTELLATION BRANDS ADDED TO EVERCORE TACTICAL OUTPERFORM LIST (+)
* Banco Macro ADRs Rated New Buy at Don Capital; PT $103
* Boeing Rated New Overweight at Wells Fargo; PT $250
* Booz Allen Reinstated Equal-Weight at Wells Fargo; PT $85
* Deutsche Telekom Rated New Buy at William O'Neil
* Inficon Rated New Overweight at JPMorgan; PT 130 Swiss francs
* Lockheed Reinstated Equal-Weight at Wells Fargo; PT $650
* Marex Group Reinstated Buy at William O'Neil
* Mobileye Rated New Buy at Berenberg; PT $9.30
* Northrop Grumman Reinstated Overweight at Wells Fargo; PT $800
* Palo Alto Networks Rated New Buy at Benchmark
* Rolls-Royce Rated New Overweight at Wells Fargo; PT 1,350 pence
* Safran Rated New Overweight at Wells Fargo; PT 325 euros
* Sandoz Group Rated New Buy at Goldman; PT 74 Swiss francs
* Severn Trent Rated New Buy at William O'Neil
* Woodward Reinstated Overweight at Wells Fargo; PT $440
* Zurich Ins. Resumed Neutral at Citi; PT 587 Swiss francs

>>> Call
* Babcock, Leonardo, TKMS Raised at Citi After Share-Price Drop
* JPMorgan More Constructive on Utilities, Engie Up to Overweight
* Jungheinrich Soars as Bernstein Raises Price Target on Prospects (+)
* Boeing Rated New Overweight at Wells Fargo on FCF Potential
* Inficon a Beneficiary of Wafer Upcycle, Overweight at JPMorgan
* Thule Gains as SEB Equities Upgrades to Remove Only Sell Rating (+)
* Unibail Raised to Overweight at JPMorgan Following Pullback