| * 3I Infrastructure 3IN.L: Barclays raises target price to 440p from 400p |
| * ACS ACS.MC: Morgan Stanley raises target price to EUR 89 from EUR 85 |
| * Admiral ADML.L: Deutsche Bank raises target price to 3550p from 3500p |
| * Adyen ADYEN.AS: Barclays cuts target price to EUR 1850 from EUR 2000 |
| * Aegon Ltd AEGN.AS: Deutsche Bank resumes coverage with price target EUR 7.30 |
| * Aegon Ltd AEGN.AS: Deutsche Bank resumes coverage with hold rating |
| * Air Liquide AIRP.PA: Citigroup cuts target price to EUR 195 from EUR 208 |
| * Allianz SE ALVG.DE: Deutsche Bank resumes coverage with hold rating |
| * Allianz SE ALVG.DE: Deutsche Bank resumes coverage with price target EUR 400 |
| * Applied Nutrition APNA.L: Deutsche Bank raises PT to 295p from 235p |
| * ArcelorMittal SA MT.LU: Morgan Stanley raises PT to EUR 46.2 from EUR 33.7 |
| * ArcelorMittal SA MT.LU: Morgan Stanley raises to overweight from equal weight |
| * Argenx SE ARGX.BR: Barclays raises target price to EUR 880 from EUR 850 |
| * ASMI International N.V ASMI.AS: Berenberg raises PT to EUR 675 from EUR 640 |
| * ASML Holding NV ASML.AS: Berenberg raises target price to EUR 1,200 from EUR 1,050 |
| * ASR Nederland NV ASRNL.AS: Deutsche Bank resumes coverage with hold rating |
| * ASR Nederland NV ASRNL.AS: Deutsche Bank resumes coverage with price target EUR 64.80 |
| * Aston Martin Lagonda AML.L: Deutsche Bank cuts target price to 75p from 80p |
| * AstraZeneca AZN.L: Barclays raises target price to 16500p from 14000p |
| * Atlas Copco ATCOa.ST: Bernstein raises target price to SEK 200 from SEK 170 |
| * Atlas Copco ATCOa.ST: Bernstein raises to outperform from market-perform |
| * Avio SpA AVI.MI: Jefferies initiates coverage with buy rating; PT EUR 39.5 |
| * Aviva AV.L: Deutsche Bank resumes coverage price target 760p |
| * Aviva AV.L: Deutsche Bank resumes coverage with buy rating |
| * AXA AXAF.PA: Deutsche Bank resumes coverage with price target EUR 45 |
| * AXA AXAF.PA: Deutsche Bank resumes coverage with buy rating |
| * B&M European value Retail SA BMEB.L: Barclays cuts PT to 250p from 300p |
| * Bachem Holding AG BANB.S: Barclays cuts target price to CHF 60 from CHF 75 |
| * Balfour Beatty Plc BALF.L: Morgan Stanley raises target price to 755p from 640p |
| * Bayer AG BAYGn.DE: Barclays raises target price to EUR 45 from EUR 30 |
| * Bayer AG BAYGn.DE: Barclays raises to overweight from equal weight |
| * Beazley BEZG.L: Deutsche Bank raises target price to 1050p from 977p |
| * Beiersdorf AG BEIG.DE: Jefferies cuts target price to EUR 92 from EUR 99 |
| * Biomerieux SA BIOX.PA: Barclays cuts target price to EUR 110 from EUR 132 |
| * Biomerieux SA BIOX.PA: Barclays cuts to equal weight from overweight |
| * Boliden BOL.ST: Bernstein raises target price to SEK 455 from SEK 358 |
| * Bouygues SA BOUY.PA: Morgan Stanley raises target price to EUR 49 from EUR 44 |
| * Cab Payments CABP.L: Barclays raises target price to 60p from 45p |
| * Carlsberg CARLb.CO: Deutsche Bank raises target price to DKK 1160 from DKK 1130 |
| * Carnival Plc CCL.L: Morgan Stanley raises target price to 2450p from 2350p |
| * Coface SA COFA.PA: Deutsche Bank cuts target price to EUR 16 from EUR 16.5 |
| * Cordiant Digital Infrastructure CORD.L: Barclays raises target price to 135p from 117p |
| * Dassault Systèmes DAST.PA: Barclays cuts target price to EUR 25 from EUR 30 |
| * Deutsche Bank DBKGn.DE: Barclays raises target price to EUR 39 from EUR 37 |
| * Deutsche Lufthansa AG LHAG.DE: Morgan Stanley raises target price to EUR 9.3 from EUR 5.4 |
| * Deutsche Lufthansa AG LHAG.DE: Morgan Stanley raises to overweight from underweight |
| * Dhl Group DHLn.DE: Morgan Stanley raises target price to EUR 48 from EUR 47 |
| * Diageo DGE.L: UBS cuts target price to 1780p from 1850p |
| * Diasorin SpA DIAS.MI: Barclays cuts target price to EUR 60 from EUR 105 |
| * Diasorin SpA DIAS.MI: Barclays cuts to underweight from equal weight |
| * Digital 9 Infrastructure DGI9.L: Barclays cuts PT to 6p from 8p |
| * Drax Group Plc DRX.L: Jefferies raises target price to 1,120p from 750p |
| * DSV DSV.CO: Morgan Stanley raises target price to DKK 1,700 from DKK 1,670 |
| * Eiffage SA FOUG.PA: Morgan Stanley raises target price to EUR 172 from EUR 168 |
| * Elisa Oyj ELISA.HE: UBS cuts target price to EUR 45.7 from EUR 49.3 |
| * Elisa Oyj ELISA.HE: UBS raises to buy from neutral |
| * Essilorluxottica SA ESLX.PA: Alphavalue cuts target price to EUR 282 from EUR 319 |
| * Essilorluxottica SA ESLX.PA: Alphavalue cuts to reduce from add |
| * Evonik Industries AG EVKn.DE: Berenberg cuts target price to EUR 11.6 from EUR 14.6 |
| * Evonik Industries AG EVKn.DE: Berenberg cuts to sell from hold |
| * Ferrovial SE FERF.AS: Morgan Stanley raises target price to EUR 64 from EUR 56 |
| * Flughafen Zurich AG FHZN.S: Morgan Stanley raises PT to CHF 230 from CHF 229 |
| * Fraport AG Frankfurt Airport FRAG.DE: Morgan Stanley raises PT to EUR 81 from EUR 80 |
| * Galderma Group AG GALD.S: Barclays raises PT to CHF 195 from CHF 155 |
| * Generali GASI.MI: Deutsche Bank resumes coverage with hold rating; PT EUR 37.50 |
| * Genmab GMAB.CO: Barclays raises target price to DKK 2,500 from DKK 2,000 |
| * Getlink GETP.PA: Morgan Stanley cuts target price to EUR 18.2 from EUR 18.3 |
| * Glencore GLEN.L: Bernstein raises target price to 435p from 375p |
| * Groupe ADP ADP.PA: Morgan Stanley cuts target price to EUR 147 from EUR 148 |
| * Gsk GSK.L: Barclays raises target price to 1780p from 1450p |
| * Gsk GSK.L: Barclays cuts to underweight from equal weight |
| * H Lundbeck A/S HLUNa.CO: Barclays cuts target price to DKK 50 from DKK 53 |
| * Hansa Biopharma AB HNSA.ST: Wedbush initiates coverage with price target SEK 69 |
| * Hansa Biopharma AB HNSA.ST: Wedbush initiates coverage with outperform rating |
| * Hemnet Group AB HEM.ST: UBS raises target price to SEK 155 from SEK 150 |
| * Hexagon AB HEXAb.ST: Barclays cuts target price to SEK 105 from SEK 120 |
| * HICL Infrastructure HICL.L: Barclays cuts target price to 135p from 140p |
| * HICL Infrastructure HICL.L: Barclays raises to overweight from equal-weight |
| * Hikma HIK.L: Barclays cuts target price to 1600p from 2100p |
| * Hikma HIK.L: Barclays cuts to underweight from equal weight |
| * Holcim AG HOLN.S: Jefferies raises target price to CHF 86 from CHF 82.9 |
| * International Public Partnerships INPP.L: Barclays raises target price to 145p from 143p |
| * International Public Partnerships INPP.L: Barclays raises to overweight from equal-weight |
| * Ipsen SA IPN.PA: Barclays raises target price to EUR 130 from EUR 125 |
| * J Sainsbury Plc SBRY.L: Barclays raises target price to 360p from 355p |
| * Kering PRTP.PA: RBC raises target price to EUR 340 from EUR 280 |
| * Kuehne Und Nagel International AG KNIN.S: Morgan Stanley raises PT to CHF 167 from CHF 159 |
| * Legal & General Group Plc LGEN.L: Deutsche Bank resumes coverage with hold rating |
| * Legal & General Group Plc LGEN.L: Deutsche Bank resumes coverage with price target 270p |
| * Lloyds Banking Group Plc LLOY.L: Barclays raises target price to 120p from 100p |
| * M&G MNG.L: Deutsche Bank resumes coverage with hold rating; price target 290p |
| * Maersk MAERSKb.CO: Morgan Stanley cuts target price to DKK 8,600 from DKK 10,900 |
| * Marks & Spencer Group Plc MKS.L: Barclays cuts target price to 420p from 430p |
| * Merck KGaA MRCG.DE: Barclays raises target price to EUR 130 from EUR 120 |
| * Natwest Group Plc NWG.L: Barclays cuts to equal-weight from overweight |
| * Nemetschek NEKG.DE: Barclays cuts target price to EUR 120 from EUR 135 |
| * Nestle SA NESN.S: Jefferies cuts target price to CHF 76 from CHF 81 |
| * Next Plc NXT.L: Barclays raises target price to 13700p from 13400p |
| * Next Plc NXT.L: Berenberg raises target price to 18,000p from 17,800p |
| * Novartis AG NOVN.S: Barclays raises target price to CHF 120 from CHF 90 |
| * Novartis AG NOVN.S: Barclays raises to equal weight from underweight |
| * Novo Nordisk NOVOb.CO: Barclays cuts target price to DKK 360 from DKK 375 |
| * Orior AG ORON.S: UBS cuts target price to CHF 12 from CHF 13 |
| * Orkla ORK.OL: Bernstein cuts target price to NOK 125 from NOK 130 |
| * Orkla ORK.OL: Bernstein cuts to market-perform from outperform |
| * Orsted ORSTED.CO: Goldman Sachs raises target price to DKK 145 from DKK 120 |
| * Pantheon Infrastructure PINT.L: Barclays raises target price to 132p from 118p |
| * Paypoint PAYP.L: Barclays cuts target price to 420p from 470p |
| * Phoenix Group Holdings PHNX.L: Deutsche Bank cuts to hold from buy |
| * Phoenix Group Holdings PHNX.L: Deutsche Bank raises target price to 755p from 720p |
| * Polypeptide Group AG PPGN.S: Barclays cuts target price to CHF 33 from CHF 35 |
| * Prudential PRU.L: Deutsche Bank resumes coverage with buy rating |
| * Prudential PRU.L: Deutsche Bank resumes coverage with price target 1355p |
| * Reckitt RKT.L: Bernstein raises target price to 7500p from 6500p |
| * Reckitt RKT.L: Jefferies raises target price to 5,900p from 5,500p |
| * Recordati RECI.MI: Barclays cuts target price to EUR 48 from EUR 50 |
| * Rexel RXL.PA: Kepler Cheuvreux raises target price to EUR 35 from EUR 33 |
| * Rexel RXL.PA: Kepler Cheuvreux cuts to hold from buy |
| * Rio Tinto RIO.L: Bernstein raises target price to 6,200p from 5,200p |
| * Roche Holding AG ROG.S: Barclays raises target price to CHF 390 from CHF 275 |
| * Roche Holding AG ROG.S: Barclays raises to overweight from equal-weight |
| * Royal Unibrew A/S RBREW.CO: Bernstein raises target price to DKK 700 from DKK 690 |
| * Sabre SBRE.L: Deutsche Bank raises target price to 190p from 183p |
| * Salzgitter AG SZGG.DE: Morgan Stanley raises target price to EUR 38.7 from EUR 20.5 |
| * Sampo SAMPO.HE: Deutsche Bank raises target price to EUR 9.5 from EUR 9.2 |
| * Sandoz Group AG SDZ.S: Barclays raises target price to CHF 70 from CHF 55 |
| * Sanofi SASY.PA: Barclays cuts target price to EUR 85 from EUR 105 |
| * Sanofi SASY.PA: Barclays cuts to equal-weight from overweight |
| * SAP SE SAPG.DE: Barclays cuts target price to EUR 270 from EUR 300 |
| * Sartorius AG SATG_p.DE: Barclays raises target price to EUR 300 from EUR 280 |
| * Sartorius Stedim Biotech SA STDM.PA: Barclays raises PT to EUR 250 from EUR 230 |
| * Securitas AB SECUb.ST: Alphavalue raises target price to SEK 159 from SEK 144 |
| * Sequoia Economic Infrastructure Income SEQI.L: Barclays cuts target price to 90p from 97p |
| * Siemens Energy AG ENR1n.DE: Citigroup raises target price to EUR 129 from EUR 116 |
| * Skanska AB SKAb.ST: Morgan Stanley raises target price to SEK 284 from SEK 270 |
| * Sodexo SA EXHO.PA: Morgan Stanley cuts target price to EUR 46 from EUR 53 |
| * Sodexo SA EXHO.PA: Morgan Stanley cuts to underweight from equal weight |
| * Solvay SOLB.BR: Barclays cuts target price to EUR 21 from EUR 23 |
| * SSAB AB SSABa.ST: Morgan Stanley raises target price to SEK 71 from SEK 57 |
| * SSE SSE.L: Morgan Stanley raises target price to 2600p from 2500p |
| * Swedish Orphan Biovitrum SOBIV.ST: Barclays raises PT to SEK 395 from SEK 350 |
| * Swiss Life SLHN.S: Deutsche Bank raises target price to CHF 815 from CHF 800 |
| * Teamviewer TMV.DE: Barclays cuts target price to EUR 8.5 from EUR 10.5 |
| * Technoprobe TPRO.MI: Deutsche Bank raises target price to EUR 16 from EUR 11 |
| * Temenos TEMN.S: Barclays raises target price to CHF 77 from CHF 67 |
| * ThyssenKrupp AG TKAG.DE: Morgan Stanley raises PT to EUR 8.7 from EUR 8.3 |
| * Trigano SA TRIA.PA: UBS raises target price to EUR 195 from EUR 190 |
| * TUI AG TUI1n.DE: Peel Hunt cuts to hold from add |
| * TUI AG TUI1n.DE: Peel Hunt raises target price to EUR 9.5 from EUR 8.5 |
| * UCB SA UCB.BR: Barclays raises target price to EUR 310 from EUR 270 |
| * Unilever ULVR.L: Bernstein cuts target price to 5800p from 5900p |
| * Unilever ULVR.L: Jefferies raises target price to 4,100p from 4,000p |
| * Vertical Aerospace Ltd EVTL.N: William Blair initiates coverage with outperform rating |
| * Vestas VWS.CO: Citigroup raises target price to DKK 240 from DKK 190 |
| * Vinci SA SGEF.PA: Morgan Stanley raises target price to EUR 139 from EUR 138 |
| * Vodafone VOD.L: Berenberg raises target price to 119p from 82p |
| * Vodafone VOD.L: Berenberg raises to buy from hold |
| * Voestalpine AG VOES.VI: Morgan Stanley raises target price to EUR 40.7 from EUR 34.5 |
| * Whitbread WTB.L: Citigroup cuts target price to 3,100p from 3,800p |
| * Wise WISEa.L: Barclays cuts target price to 1130p from 1250p |
| * Worldline WLN.PA: Barclays cuts target price to EUR 1.6 from EUR 1.7 |
| * Zurich Insurance Group AG ZURN.S: Deutsche Bank resumes coverage with hold rating |
| * Zurich Insurance Group AG ZURN.S: Deutsche Bank resumes coverage with PT CHF 575 |
