>>> Europe : Brokers Upgrades & Downgrades - 23rd of June 2026

>>> Up
* Apetit Raised to Reduce at Inderes; PT 12.50 euros
* Demant Raised to Overweight at Morgan Stanley; PT 290 kroner
* DSV Price Target Raised to DKK 2,300 from DKK 2,200 by Goldman Sachs
* DWS Raised to Outperform at BNP Paribas; PT 74 euros
* Fevertree Drinks Raised to Hold at Peel Hunt; PT 780 pence
* GEA Group Raised to Equal-Weight at Morgan Stanley; PT 60 euros
* Hilton Worldwide Raised to Hold at CFRA; PT $358
* Hyatt PT Raised to $209 from $189 at CFRA
* ICG Raised to Buy at UBS; PT 2,150 pence
* Sobi PT Raised to 550 kronor from 525 kronor at Berenberg
* Sonova Raised to Equal-Weight at Morgan Stanley
* Standard Chartered Raised to Buy at Deutsche Bank
* Telia Raised to Equal-Weight at Barclays; PT 51 kronor

>>> Down
* Apogee Therapeutics Cut to Hold at Craig-Hallum; PT $135.11
* Apogee Therapeutics Cut to Neutral at UBS; PT $135.11
* Apogee Therapeutics Cut to Hold at Deutsche Bank; PT $135
* Apogee Therapeutics Cut to Neutral at Wedbush; PT $135
* BioMerieux Cut to Underweight at Morgan Stanley; PT 64 euros
* Epiroc Cut to Sell at UBS; PT 230 kronor
* Hermes Cut to Hold at HSBC; PT 1,870 euros
* KBC Cut to Hold at ING; PT 119 euros
* L'Oreal Cut to Sell at Deutsche Bank; PT 340 euros
* SUSS MicroTec Cut to Sell at DZ Bank; PT 80 euros
* Telenor Cut to Underweight at Barclays; PT 140 kroner
* Yara Cut to Hold at Jefferies; PT 470 kroner
* Yara PT Cut to 390 kroner from 460 kroner at Nordea

>>> Initiation
* Adobe Assumed Overweight at JPMorgan; PT $340
* Akamai Assumed Underweight at JPMorgan; PT $100
* AL Sydbank Assumed Buy at Jyske Bank; PT 750 kroner
* Arista Networks Assumed Overweight at JPMorgan; PT $200
* Catena Rated New Buy at Nordea; PT 460 kronor
* Ciena Assumed Overweight at JPMorgan; PT $635
* Cisco Assumed Overweight at JPMorgan; PT $120
* Cloudflare Assumed Neutral at JPMorgan; PT $145
* Coherent Corp Assumed Overweight at JPMorgan; PT $380
* CoreWeave Assumed Neutral at JPMorgan; PT $105
* Credo Technology Rated New Buy at GF Securities; PT $343
* Datadog Assumed Overweight at JPMorgan; PT $320
* Dell Technologies Assumed Overweight at JPMorgan; PT $500
* DKSH Rated New Overweight at Barclays; PT 77 Swiss francs
* Dropbox Assumed Neutral at JPMorgan; PT $25
* Exail Technologies Rated New Buy at Stifel; PT 140 euros
* FedEx Freight Rated New Buy at Jefferies; PT $200
* Flutter Rated New Hold at Freedom Capital; PT $81.19
* GE Healthcare Rated New Outperform at RBC; PT $80
* HP Inc. Assumed Neutral at JPMorgan; PT $26
* HubSpot Assumed Overweight at JPMorgan; PT $425
* Intuit Assumed Overweight at JPMorgan; PT $605
* Jabil Assumed Overweight at JPMorgan; PT $450
* Louisiana-Pacific Rated New Buy at Jefferies; PT $93
* Lumentum Assumed Overweight at JPMorgan; PT $1,130
* Microsoft Assumed Overweight at JPMorgan; PT $550
* Mobileye Assumed Neutral at JPMorgan; PT $9
* NP3 Fastigheter Rated New Buy at Nordea; PT 320 kronor
* NetApp Assumed Neutral at JPMorgan; PT $150
* Nutanix Assumed Neutral at JPMorgan; PT $50
* Oracle Assumed Overweight at JPMorgan; PT $210
* Qualcomm Assumed Neutral at JPMorgan; PT $265
* Sanmina Assumed Neutral at JPMorgan; PT $210
* Seagate Assumed Overweight at JPMorgan; PT $920
* SMG Swiss Marketplace Group Rated New Buy at Berenberg
* Snowflake Assumed Overweight at JPMorgan; PT $285
* Super Micro Computer Assumed Neutral at JPMorgan; PT $32
* TE Connectivity Assumed Neutral at JPMorgan; PT $260
* TotalEnergies Rated New Outperform at CICC; PT 90 euros
* Trastor Real Estate Investment Rated New Buy at Jefferies
* Turkcell ADRs Rated New Outperform at BNP Paribas; PT $8.20

>>> Call
* Barclays Raises S&P 500 Target Over Improving Earnings Outlook
* Baidu Rises as Citi Opens Positive Catalyst Watch on Stock
* Fevertree Nearing Earnings Inflection Point, Peel Hunt Upgrades
* GEA Group is Upgraded at Morgan Stanley Following De-Rating
* Morgan Stanley Selective in MedTech, Makes Four Rating Changes
* Umicore Gets Positive Catalyst Watch at JPMorgan Into Results
* Yara Cut at Jefferies on Step Down in Agriculture Fundamentals