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

>>> Up
* Bankinter Raised to Overweight at Banco Sabadell; PT 18.01 euros

* Belimo Raised to Buy at UBS; PT 900 Swiss francs

* Betsson Raised to Buy at Pareto Securities; PT 115 kronor

* Kitron Raised to Buy at Arctic Securities; PT 110 kroner

* Mandatum Raised to Accumulate at Inderes; PT 6.20 euros

* Metso Raised to Buy at SEB Equities; PT 19 euros

* Metso Raised to Accumulate at Inderes; PT 18 euros

* Nordic Semiconductor Raised to Buy at SEB Equities

* Sandvik Raised to Buy at Pareto Securities; PT 400 kronor

* Sartorius Raised to Outperform at RBC; PT 330 euros

* Skydance Raised to Neutral at JPMorgan; PT $9

* SpaceX Raised to Buy at Phillip Secs; PT $250

* Spotify PT Raised to $650 from $565 at Barclays

* SRV Group Raised to Accumulate at Inderes; PT 9.70 euros

* Zurich Ins. Raised to Neutral at UBS; PT 620 Swiss francs

>>> Down
* Biogaia Cut to Neutral at SB1 Markets; PT 140 kronor

* Castellum Cut to Sell at Arctic Securities; PT 120 kronor

* Fiskars Cut to Sell at Inderes; PT 12 euros

* Hermes Cut to Hold at Berenberg; PT 1,230 euros

* Hermes ADRs Cut to Hold at Berenberg; PT $138

* Kering PT Cut to 200 euros from 220 euros at Jefferies

* Kitron Cut to Hold at Pareto Securities; PT 90 kroner

* Komplett Cut to Hold at SEB Equities; PT 6.50 kroner

* Lancashire Cut to Underweight at Barclays; PT 530 pence

* Orion Cut to Reduce at Inderes; PT 87 euros

* Sainsbury Cut to Neutral at BNP Paribas; PT 345 pence

* Steyr Motors Cut to Neutral at Cantor; PT 39.50 euros

* Tikehau Capital Cut to Sector Perform at RBC; PT 16 euros

* Trainline Cut to Hold at Canaccord; PT 212.54 pence

>>> Initiation
* Airtel Money Rated New Buy at HSBC; PT 300 pence

* AstraZeneca Rated New Buy at Arctic Securities

* Tencent ADRs Rated New Outperform at BNP Paribas; PT $80

>>> Call
* Hong Kong Selloff Turns Morgan Stanley More Wary on China Stocks