>>> Europe : Brokers Upgrades & Downgrades - 20th of July 2026

>>> Up
* Alleima Raised to Hold at ABG; PT 96 kronor
* ATALAYA MINING COPPER SA Raised to Outperform at RBC
* BNP Paribas PT Raised to 135 euros from 127 euros at Jefferies
* Castellum Raised to Hold at Jefferies; PT 125 kronor
* Computacenter Raised to Buy at Berenberg; PT 5,300 pence
* DocMorris Raised to Neutral at UBS; PT 10.70 Swiss francs
* Ferrovial NV Raised to Neutral at JB Capital Markets
* Lagercrantz Raised to Buy at Pareto Securities; PT 270 kronor
* Lumentum Raised to Overweight at Barclays; PT $1,000
* Netflix Raised to Buy at Phillip Secs; PT $110drzaf
* SSH Communications Security Raised to Reduce at Inderes
* Telia Raised to Reduce at Inderes; PT 41 kronor

>>> Down
* Corbion Cut to Neutral at Oddo BHF; PT 23 euros
* Gooch & Housego Cut to Hold at Deutsche Bank; PT 1,230 pence
* Monster Beverage Cut to Hold at Deutsche Bank; PT $98
* Nokian Renkaat Cut to Sell at Nordea; PT 13 euros
* Orion Cut to Accumulate at Inderes; PT 83 euros
* Schwab Cut to Market Perform at BMO; PT $105
* StoneX Group Inc Cut to Hold at Jefferies; PT $112
* Tamtron Group Cut to Reduce at Inderes; PT 5 euros

>>> Initiation
* Adobe Rated New Accumulate at CLSA; PT $300
* Microsoft Reinstated Accumulate at CLSA; PT $535
* Stockholm Nordtech Group Rated New Buy at Nordea; PT 73 kronor
* Uber Rated New Outperform at Wedbush

>>> Call