>>> Europe : Brokers Upgrades & Downgrades - 4th of May 2026 V3(++)

>>> Up
* Aktia Bank Raised to Accumulate at Inderes; PT 12 euros (+)
* Arcadis Raised to Accumulate at KBC Securities; PT 42 euros (++)
* Camurus Raised to Buy at Handelsbanken; PT 700 kronor (++)
* CTP Raised to Buy at Kepler Cheuvreux; PT 19.60 euros (++)
* Endomines Finland Raised to Buy at Evli Bank; PT 11 euros (++)
* Fortum Raised to Equal-Weight at Morgan Stanley; PT 23 euros
* Glaston Raised to Accumulate at Inderes; PT 1.30 euros (+)
* Himalaya Shipping Raised to Buy at Arctic Securities (++)
* Kion Raised to Outperform at Oddo BHF; PT 58 euros (+)
* Leroy Raised to Buy at Pareto Securities; PT 50 kroner
* Norsk Hydro Raised to Buy at Pareto Securities; PT 116 kroner
* Paradox Interactive Raised to Buy at Pareto Securities (++)
* Rheinmetall Raised to Outperform at Grupo Santander (+)
* Umicore Raised to Buy at Bank Degroof Petercam; PT 24 euros (++)
* Wavestone Raised to Buy at TP ICAP Midcap; PT 61 euros (++)

>>> Down
* Incap Cut to Accumulate at Inderes; PT 12 euros
* Jenoptik Cut to Neutral at Oddo BHF; PT 37 euros (++)
* Komplett Cut to Hold at Nordea
* Sanofi Cut to Equal-Weight at Morgan Stanley; PT 90 euros
* Sanofi ADRs Cut to Equal-Weight at Morgan Stanley; PT $52
* Siltronic Cut to Underperform at Oddo BHF; PT 75 euros (++)
* Sunborn International Cut to Sell at Inderes; PT 20 euro cents (++)

>>> Initiation
* Archer Rated New Buy at Danske Bank Markets; PT 35 kroner (++)
* BAT ADRs Rated New Outperform at CCB Intl; PT $75 (++)
* Fasadgruppen Group Rated New Buy at Inderes; PT 26 kronor (++)
* IPC Rated New Sector Perform at National Bank; PT 304.87 kronor

>>> Call
* Aalberts Jumps as Oddo Sees Worst Over After Strong 1Q Sales (++)
* Sanofi Cut to Equal-Weight at Morgan Stanley on Few Catalysts (+)
* Soitec Soars After Deutsche Bank Said it Would Rally More (++)
* Technip Energies Falls as Goldman Says Limited Near-Term Upside (++)
* US 1Q Earnings ‘Exceptionally Strong’ so Far: Goldman’s Snider (+)