Daily analyst moves
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How stock upgrades and downgrades differ from target changes
An upgrade or downgrade changes the analyst’s recommendation. A price target estimates a future share price. Check whether the analyst specifies a time horizon. A firm can change either one while keeping the other steady.
In a note dated December 3, 2025, First Berlin kept its Buy rating on Valneva and raised its 12-month target from €6.30 to €6.80 after increasing its valuation for the company’s Lyme disease vaccine candidate. In a note dated February 20, 2026, it kept Buy and lowered the target to €6.60 after reducing its estimates for the company’s established products.