>>> Up
* Bayer Raised to Overweight at Morgan Stanley; PT 40 euros
* Berkeley Raised to Buy at Jefferies; PT 5,037 pence
* BW LPG Raised to Buy at ABG; PT 147 kroner
* Drax Raised to Buy at Citi; PT 850 pence
* Drax Raised to Overweight at Morgan Stanley; PT 900 pence
* EDP Renovaveis Raised to Buy at Citi; PT 13.50 euros
* E.On Raised to Overweight at Morgan Stanley; PT 18 euros
* Garmin Raised to Buy at Longbow
* Merck KGaA Raised to Outperform at BNPP Exane; PT 145 euros
* Novartis ADRs Raised to Overweight at Morgan Stanley; PT $136
* Solaria Energia Raised to Equal-Weight at Morgan Stanley
* Stellantis Raised to Buy at UBS; PT 12 euros
* Stellantis Raised to Buy at UBS; PT 12 euros
* Tamtron Group Raised to Buy at Inderes; PT 6.40 euros
* Veolia Raised to Overweight at Morgan Stanley; PT 33 euros
* YouGov raised from Neutral to Overweigh at JPMorgan
>>> Down
>>> Down
* ADP Cut to Neutral at JPMorgan; PT 132 euros
* Barratt Redrow Cut to Hold at Jefferies; PT 447 pence
* Buzzi SpA Cut to Neutral at JPMorgan; PT 58 euros
* Enagas Cut to Sell at Citi; PT 13.10 euros
* Enel Cut to Underweight at Morgan Stanley; PT 8.60 euros
* Flughafen Wien Cut to Hold at Erste Group; PT 57.70 euros
* Fraport Raised to Overweight at JPMorgan; PT 83 euros
* Guerbet Cut to Underperform at Oddo BHF; PT 14 euros
* Holcim Cut to Hold at Jefferies; PT 82.90 Swiss francs
* Italgas Cut to Equal-Weight at Morgan Stanley; PT 10 euros
* Michelin Cut to Neutral at UBS; PT 30 euros
* Pagegroup Cut to Underweight at Morgan Stanley; PT 215 pence
* Regeneron Cut to Equal-Weight at Morgan Stanley; PT $767
* Renault Cut to Sell at UBS
* Renault Cut to Sell at UBS
* Salzgitter Cut to Underweight at JPMorgan; PT 27.90 euros
* Trainline Cut to Underweight at JPMorgan; PT 230 pence
* Travis Perkins Cut to Underperform at Jefferies; PT 535 pence
* Uniqa Cut to Hold at Erste Group; PT 16.30 euros
* Vinci Cut to Neutral at JPMorgan; PT 133 euros
* Whitbread Cut to Hold at Deutsche Bank; PT 2,815 pence
>>> Initiation
>>> Initiation
* Airbus Rated New Equal-Weight at Oxcap; PT 190 euros
* Capri Holdings Reinstated Overweight at Barclays; PT $31
* Fraport Rated New Outperform at Mediobanca SpA; PT 84 euros
* Linde Rated New Outperform at CICC; PT $510
* Linde Rated New Outperform at CICC; PT $510
* Schott Pharma Rated New Sector Perform at RBC; PT 21.50 euros
* Ypsomed Rated New Hold at Deutsche Bank; PT 345 Swiss francs
>>> Call
>>> Call
* Building Stocks to See Constrained Trajectory in 2026: Jefferies
* Utilities Sector a ‘Multi Theme Winner,’ Morgan Stanley Says
* Utilities Sector a ‘Multi Theme Winner,’ Morgan Stanley Says
* Morgan Stanley Sees Overhangs Lifting in Pharma, Bayer Upgraded
* Fraport Raised, ADP, Vinci Cut at JPMorgan, Ferrovial a Top Pick