>>> Europe : Brokers Upgrades & Downgrades - 28th of Sept 2026

>>> Up
* Biogaia Raised to Buy at SB1 Markets; PT 135 kronor
* CF Industries Raised to Neutral at Rothschild & Co Redburn
* DNB Bank Raised to Buy at ABG; PT 352 kroner
* Instalco AB Raised to Buy at Pareto Securities; PT 48 kronor
* Netum Group Raised to Reduce at Inderes; PT 55 euro cents

>>> Down
* Ayvens Cut to Neutral at UBS; PT 10.50 euros
* Cibus Real Estate Cut to Hold at Nordea
* FM Mattsson AB Cut to Neutral at SB1 Markets; PT 125 kronor
* Pandox Cut to Hold at Nordea
* PepsiCo Cut to Hold at Deutsche Bank; PT $138
* PPI Public Property Invest Cut to Hold at Nordea
* Rentokil PT Cut to 370 pence from 490 pence at Jefferies
* Roblox Cut to Underperform at Jefferies; PT $38

>>> Initiation
* Cellavision Rated New Buy at Arctic Securities; PT 205 kronor
* Cipher Digital Reinstated Buy at Jones; PT $35
* CoreWeave Rated New Buy at Jones; PT $160
* Datadog Rated New Buy at William O'Neil
* IREN Ltd Reinstated Neutral at Jones
* Jenoptik Reinstated Buy at Stifel; PT 55 euros
* Maire Rated New Buy at Citi; PT 18 euros
* MARA Holdings Reinstated Buy at Jones; PT $22
* Pandox Rated New Neutral at Van Lanschot Kempen; PT 170 kronor
* Remedy Entertainment Cut to Accumulate at Inderes; PT 23 euros
* SharonAI Rated New Buy at Jones; PT $80

>>> Call
* Haleon Placed on Negative Catalyst Watch at JPMorgan, PT Cut
* Maire New Buy at Citi on Support From Increasing Gas Investment
* Rexel’s GCG Deal ‘Hits Strategic Sweet Spot,’ Bernstein Says