>>> Europe : Brokers Upgrades & Downgrades - 1st of Sept 2026 V2(+)

>>> Up
* Academedia Raised to Hold at SEB Equities; PT 105 kronor
* Deutz PT Raised to 19 euros at MP Capital Markets (+)
* DFDS PT Raised to 190 kroner from 160 kroner at RBC
* DNB Bank Raised to Equal-Weight at Morgan Stanley; PT 330 kroner
* Draegerwerk Raised to Add at AlphaValue/Baader (+)
* Drax Raised to Buy at Goldman; PT 1,020 pence
* EDP SA Raised to Buy at Jefferies; PT 5.40 euros
* Kazatomprom GDRs Raised to Overweight at JPMorgan; PT $91
* Merck KGaA Raised to Buy at HSBC; PT 170 euros
* Montana Aerospace Raised to Outperform at ZKB (+)
* Orsted Raised to Outperform at RBC; PT 180 kroner
* Reckitt Raised to Overweight at JPMorgan; PT 6,500 pence
* Robinhood Raised to Overweight at Morgan Stanley; PT $150
* Shaftesbury Capital Raised to Overweight at Morgan Stanley
* Straumann Raised to Buy at UBS; PT 115 Swiss francs (from 90 CHF)
* Swedbank Raised to Equal-Weight at Morgan Stanley; PT 386 kronor
* WDP Raised to Overweight at Morgan Stanley; PT 27 euros

>>> Down
* Atea Cut to Neutral at SB1 Markets; PT 180 kroner
* CMB Tech Cut to Hold at Fearnley; PT 17.23 euros
* Colonial SFL Socimi Cut to Equal-Weight at Morgan Stanley
* Givaudan cut from Buy to Hold at Jefferies, PT cut from 3,700 to 3,030 CHF
* Nordea Bank Cut to Equal-Weight at Morgan Stanley; PT 19 euros
* Prosus Cut to Equal-Weight at ABSA Securities; PT 44.92 euros
* SAP Cut to Neutral at Grupo Santander; PT 194.69 euros
* Standard Life Cut to Neutral at UBS; PT 1,015 pence
* Unite Group Cut to Equal-Weight at Morgan Stanley; PT 600 pence

>>> Initiation
* Accor Resumed Buy at Deutsche Bank; PT 55 euros (+)
* Airbnb Rated New Buy at Rosenblatt Securities Inc
* Arista Networks Rated New Buy at Deutsche Bank
* Cisco Rated New Buy at Deutsche Bank
* Coherent Corp Rated New Buy at Deutsche Bank
* Ctek Rated New Buy at SB1 Markets; PT 21 kronor
* Dell Technologies Rated New Hold at Deutsche Bank
* DoorDash Rated New Buy at Rosenblatt Securities Inc
* Expedia Rated New Neutral at Rosenblatt Securities Inc
* HP Enterprise Rated New Buy at Deutsche Bank
* Know IT Rated New Neutral at SB1 Markets; PT 105 kronor
* Lyft Rated New Neutral at Rosenblatt Securities Inc
* Micron Rated New Outperform at Safra; PT $1,500
* NIOX GROUP PLC Reinstated Buy at Cavendish; PT 83 pence
* Proact IT Rated New Buy at SB1 Markets; PT 168 kronor
* Spie Rated New Buy at Deutsche Bank; PT 57 euros
* Technogym Rated New Buy at Marex; PT 28 euros (+)
* Uber Rated New Buy at Rosenblatt Securities Inc
* Vertiseit Rated New Buy at SB1 Markets; PT 71 kronor
* Viridien Rated New Buy at Goldman; PT 118 euros

>>> Call
* AcadeMedia Raised to Hold at SEB on Performance After Derating (+)
* EDP Raised to Buy at Jefferies; E.On, RWE Also Top Utility Picks (+)
* Drax Gets Another Upgrade as Goldman Says Buy on Cash Generation (+)
* Reckitt Raised, Heineken, Unilever on Catalyst Watch at JPMorgan
* Morgan Stanley Takes More Constructive View on Nordic Banks
* Some Positive Signs in European Property, Morgan Stanley Says
* Booking, Airbnb, and Uber All Rated New Buys at Rosenblatt
* Morgan Stanley, Citi Push Law Firms to Cut Fees Due to AI: FT
* Orsted Offers Strong Balance Sheet Optionality, RBC Upgrades (+)
* Standard Life Downgraded at UBS After ‘Justified’ Outperformance (+)
* Viridien Gets New Buy at Goldman on Geoscience Business Hope (+)