>>> Europe : Brokers Upgrades & Downgrades - 30th of January 2026

>>> Up
* Accesso Technology Raised to Buy at Peel Hunt; PT 435 pence
* Aena Raised to Buy at Jefferies; PT 30 euros
* AUTO1 PT Raised to 50 euros from 42 euros at JPMorgan
* Circle Internet Raised to Neutral at Compass Point; PT $60
* Fraport Raised to Buy at Jefferies; PT 100 euros
* Fugro Raised to Hold at Jefferies; PT 10 euros
* Jenoptik Raised to Buy at Deutsche Bank; PT 28 euros
* SEB Raised to Buy at SB1 Markets; PT 200 kronor
* Southwest Air PT Raised to $55 from $50 at Morgan Stanley
* Worldline Raised to Neutral at Oddo BHF; PT 1.60 euros

>>> Down
* Alma Media Cut to Hold at SEB Equities; PT 15.50 euros
* Antofagasta Cut to Neutral at UBS; PT 4,200 pence
* Dollar Tree Cut to Sell at CFRA
* Carrefour Cut to Hold at Jefferies; PT 14 euros
* Grenergy Renovables Cut to Equal-Weight at Barclays; PT 95 euros
* Kenvue Cut to Hold at Jefferies; PT $18
* Kojamo Cut to Hold at SEB Equities; PT 10.80 euros
* Orion Cut to Hold at Jefferies; PT 78 euros
* Pandora Cut to Hold at SEB Equities; PT 500 kroner
* SAP ADRs Cut to Market Perform at Citizens
* Stolt-Nielsen Cut to Hold at SEB Equities; PT 304 kroner
* Suominen Cut to Sell at Inderes; PT 1.30 euros
* WAG Payment Cut to Neutral at UBS; PT 142 pence

>>> Initiation
* 3i Infra Rated New Buy at Canaccord
* Alibaba ADRs Reinstated Buy at William O'Neil
* Aviva Rated New Buy at Peel Hunt; PT 755 pence
* ASML ADRs Reinstated Add at CTBC Securities; PT $1,620
* Greencoat UK Wind Rated New Hold at Canaccord
* HarbourVest Global Rated New Hold at Canaccord
* Kerry Group Reinstated Buy at Goldman; PT 95 euros
* Lindab Rated New Neutral at SB1 Markets; PT 200 kronor
* Peab Rated New Buy at SB1 Markets; PT 105 kronor

>>> Call
* Aviva New Buy at Peel Hunt on Strength From Diversified Scale
* Deutsche Bank Street-High Target Maintained at Morgan Stanley
* Fugro Raised to Hold at Jefferies on Improving Wind Sentiment
* Software Is Oversold, But Repairing Weakess Will Take Time: BTIG
* Worldline Upgraded to Neutral at Oddo BHF on Recovery Plan