>>> Europe : Brokers Upgrades & Downgrades - 7th of May 2026

>>> Up
* AJ Bell Raised to Neutral at Citi; PT 520 pence
* Anora Raised to Accumulate at Inderes; PT 3.60 euros
* ASML Price Target Raised to EUR 1,710 from EUR 1,598 by Bank of America
* Chevron Raised to Hold at Punto Casa de Bolsa; PT $202
* Exel Composites Raised to Accumulate at Inderes; PT 10.50 euros
* Exxon Raised to Hold at Punto Casa de Bolsa; PT $160
* Netcompany Raised to Buy at ABG; PT 420 kroner
* Relais Group Raised to Buy at Inderes; PT 18 euros
* Scatec Raised to Buy at Pareto Securities; PT 120 kroner
* Scorpio Tankers Raised to Buy at BofA
* Siegfried Raised to Buy at Research Partners
* Vestas Raised to Neutral at SB1 Markets; PT 180 kroner
* Vestas Raised to Buy at Jyske Bank; PT 220 kroner

>>> Down
* Ambu Cut to Hold at ABG; PT 65 kroner
* Continental Price Target Cut to EUR 77 from EUR 79 by Bank of America
* Credit Agricole Cut to Underperform at KBW; PT 18 euros
* Electrolux Price Target Cut to SEK 58 from SEK 70 by UBS
* Fagerhult Group AB Cut to Hold at ABG; PT 23 kronor
* Infineon Cut to Neutral at Oddo BHF; PT 60 euros
* Rovi Cut to Neutral at BNP Paribas; PT 75 euros
* Tele2 Cut to Neutral at Citi; PT 185 kronor
* Telenor Cut to Neutral at Citi; PT 167 kroner
* Telia Cut to Neutral at Citi; PT 49 kronor

>>> Initiation
* 74Software SA Rated New Outperform at Oddo BHF; PT 46 euros
* AT&S Rated New Overweight at Cantor; PT 133 euros
* Chapters Group Rated New Buy at Berenberg; PT 42 euros

>>> Call
* AMG Ebitda, Second-Quarter Outlook Beat Expectations, Citi Says
* Citi Downgrades Nordtic Telco Stocks as Growth Catalysts Fade