>>> Europe : Brokers Upgrades & Downgrades - 29th of July 2026

>>> Up
* Coca-Cola PT Raised to $100 from $88 at Evercore ISI
* Kering Raised to Buy at HSBC; PT 340 euros
* Sika Raised to Overweight at JPMorgan; PT 215 Swiss francs
* Swissquote Raised to Buy at Goldman; PT 50 Swiss francs

>>> Down
* Caterpillar Cut to Neutral at Baird; PT $900
* Luceco Cut to Hold at Deutsche Bank; PT 260 pence
* Microsoft PT Cut to $470 from $550 at Scotiabank

>>> Initiation
* Carvolix Rated New Outperform at Oddo BHF; PT 10.50 euros
* CMB Tech Rated New Buy at SB1 Markets; PT 18.11 euros
* Expedia Reinstated Buy at William O'Neil
* Kuros Biosciences Rated New Buy at UBS; PT 33 Swiss francs
* MLP Rated New Buy at Berenberg; PT 11.90 euros
* Safran Reinstated Buy at William O'Neil
* SBM Offshore Rated New Outperform at RBC; PT 45 euros
* Sobi Rated New Buy at SB1 Markets; PT 515 kronor
* Uranium Royalty Rated New Outperform at National Bank; PT $3.75

>>> Call
* SBM Offshore New Outperform at RBC on Offshore Energy Demand
* Tesla Target Cut to ‘Compelling’ Takeover Price of $480 at RBC