TheChek News Flow

>>> Up

* BAE Raised to Market Perform at Bernstein; PT 1,950 pence

* Diageo Raised to Outperform at RBC; PT 2,000 pence

* Galp Expectations Reset, Raised to Overweight at Morgan Stanley
* Givaudan Raised to Equal-Weight at Morgan Stanley

* Huhtamaki Raised to Outperform at BNP Paribas; PT 34.20 euros

* Infineon Price Target Raised to EUR 46 from EUR 42 by Bank of America

* ISS Raised to Overweight at Morgan Stanley; PT 245 kroner

* Orsted Raised to Neutral at Citi; PT 132 kroner

* Paragon Raised to Buy at Jefferies; PT 1,060 pence

* Rentokil Raised to Overweight at Morgan Stanley; PT 520 pence

* RS Group Raised to Overweight at Morgan Stanley; PT 790 pence

* Schindler Raised to Overweight at JPMorgan; PT 340 Swiss francs

* Scout24 Raised to Buy at Jefferies; PT 105 euros

* SMG Swiss Marketplace Group Raised to Buy at Jefferies

* Thales Raised to Outperform at Bernstein; PT 275 euros

* TKMS Raised to Market Perform at Bernstein

>>> Down

* Adidas Cut to Underperform at BofA

* Allgeier Cut to Hold at Berenberg; PT 22 euros

* Auto Trader Cut to Hold at Jefferies; PT 650 pence
* Brenntag Cut to Underweight at Morgan Stanley; PT 50 euros

* Bucher Cut to Neutral at UBS; PT 380 Swiss francs

* BAE Raised to Market Perform at Bernstein; PT 1,950 pence

* DCC Cut to Equal-Weight at Morgan Stanley; PT 5,750 pence

* DSM-Firmenich Cut to Equal-Weight at Morgan Stanley; PT 81 euros

* Heineken Cut to Sector Perform at RBC; PT 76 euros

* IMCD Cut to Equal-Weight at Morgan Stanley; PT 100 euros

* Kone Cut to Neutral at JPMorgan; PT 65 euros

* SGS Cut to Equal-Weight at Morgan Stanley; PT 100 Swiss francs

* SSP Cut to Equal-Weight at Barclays; PT 220 pence

>>> Initiation
* IAG ADRs Rated New Overweight at Morgan Stanley; PT $12.70

* Property Franchise Rated New Buy at Stifel; PT 650 pence

* Zehnder Rated New Buy at Berenberg; PT 100 Swiss francs

>>> Call

* Goldman Sees European Stocks Achieving ‘Modest’ Gains in 2026
* Rentokil, DCC Raised at Morgan Stanley, Cautious on Staffers