>>> Europe : Brokers Upgrades & Downgrades - 22nd of April 2026

>>> Up
* Biogen Raised to Buy at UBS; PT $225
* Enagas Raised to Neutral at BNP Paribas; PT 17.10 euros
* Genmab Raised to Buy at Goldman; PT 2,200 kroner
* Genmab ADRs Raised to Buy at Goldman; PT $30.50
* Genmab Raised to Outperform at BNP Paribas; PT 2,400 kroner
* Halliburton Raised to Buy at Griffin Securities; PT $47
* World’s 10th largest exchange to land in Australia with Cboe purchase
* Lapwall Raised to Accumulate at Inderes; PT 4.50 euros
* Reply Raised to Buy at Berenberg
* SAP Raised to Buy at HSBC; PT 182 euros
* Seagate Raised to Overweight at Barclays; PT $625

>>> Down
* Abbott Cut to Neutral at Daiwa; PT $92
* Albemarle Cut to Neutral at Rothschild & Co Redburn; PT $188
* Autotrader Group PLC Cut to Equal-Weight at Barclays
* Frontline PLC Cut to Inline at Evercore ISI; PT $38
* Ibersol Cut to Neutral at JB Capital Markets; PT 12.50 euros
* Qualcomm Cut to Underweight at Barclays; PT $130
* Royal Unibrew Cut to Hold at Deutsche Bank; PT 425 kroner
* Royal Unibrew Cut to Neutral at Goldman; PT 465 kroner
* Royal Unibrew Cut to Neutral at BNP Paribas; PT 440 kroner
* Royal Unibrew Cut to Hold at Nordea
* Telia Cut to Sell at Inderes; PT 38 kronor
* Valneva Cut to Sell at Goldman; PT 2.15 euros
* Valneva ADRs Cut to Sell at Goldman; PT $4.90

>>> Initiation
* Adyen Reinstated Outperform at BMO; PT 1,200 euros
* Cava Group Rated New Buy at Roth Capital Partners; PT $106
* CMB Tech Rated New Buy at Berenberg; PT 14.20 euros
* Fiserv Reinstated Market Perform at BMO; PT $65
* Kardex Rated New Add at AlphaValue/Baader
* Klarna Rated New Market Perform at BMO; PT $16
* Mastercard Reinstated Outperform at BMO; PT $605
* Micron Reinstated Buy at William O'Neil
* Monte Paschi Reinstated Outperform at Grupo Santander
* Steel Dynamics Reinstated Buy at William O'Neil
* Twilio Reinstated Buy at William O'Neil
* Visa Reinstated Outperform at BMO; PT $365

>>> Call