>>> Europe : Brokers Upgrades & Downgrades - 24th of June 2026 V2(+)

>>> Up
* 1&1 Raised to Overweight at Barclays; PT 24 euros (+)
* Givaudan Raised to Neutral at Van Lanschot Kempen (+)
* Nucor Raised to Overweight at KeyBanc; PT $274
* Poste Italiane Raised to Overweight at Barclays; PT 35.20 euros
* Renault Raised to Equal-Weight at Oxcap; PT 32 euros
* St James's Place PT Raised to 2,050 pence at Deutsche Bank (+)
* Truecaller Raised to Buy at SEB Equities; PT 16 kronor
* United Internet Raised to Overweight at Barclays; PT 28 euros (+)

>>> Down
* Allegro Cut to Neutral at Goldman; PT 41 zloty
* BBVA Cut to Hold at Bestinver; PT 23.05 euros (+)
* Basler Cut at MP Capital Markets Following Strong Stock Rally (+)
* Landis + Gyr Cut to Hold at Research Partners

>>> Initiation
* Argo Defence Group Rated New Buy at Pareto Securities
* Barclays Rated New Buy at Berenberg; PT 620 pence
* Barclays ADRs Reinstated Buy at Berenberg; PT $32.80
* Beauty Tech Group Rated New Buy at Peel Hunt; PT 470 pence
* Lloyds Rated New Hold at Berenberg; PT 117 pence
* Lloyds ADRs Reinstated Hold at Berenberg; PT $6.20
* Merck & Co Rated New Outperform at CICC; PT $138
* NatWest ADRs Reinstated Buy at Berenberg; PT $22.80
* Norconsult Norge Rated New Buy at Fearnley; PT 41 kroner (+)
* Playtech Rated New Buy at Panmure Liberum; PT 459 pence (+)
* Sandoz Group Rated New Buy at William O'Neil
* Scout24 Rated New Buy at DZ Bank; PT 95 euros

>>> Call
* Argenx R&D Call Outlines Filing Strategy, Buy Maintained: KBC (+)
* Beauty Tech Group Rated New Buy at Peel Hunt on Growth Potential (+)
* Renault Raised to Equal-Weight at Oxcap, Headwinds Now Reflected
* UK Banks Remain Cheap, Berenberg Rates Barclays, NatWest Buy
* BNP Sees Taiwan Dollar Losing Momentum on Seasonality, Flows
* Truecaller Raised to Buy at SEB Equities, Trough is Passing (+)