| * Avon Protection AVON.L: Jefferies raises target price to 2390p from 2330p |
| * B.Ca Monte Dei Paschi BMPS.MI: Deutsche Bank raises PT to EUR 12 from EUR 11 |
| * Babcock International BAB.L: Jefferies cuts target price to 1400p from 1670p |
| * BP BP.L: HSBC cuts target price to 605p from 620p |
| * BPER Banca S.P.A. EMII.MI: Deutsche Bank cuts to hold from buy |
| * Burberry BRBY.L: Barclays cuts target price to 1410p from 1450p |
| * Burberry BRBY.L: Morgan Stanley raises to overweight from equal weight |
| * Centrica CNA.L: Berenberg raises target price to 230p from 190p |
| * Cohort Plc CHRT.L: Jefferies initiates coverage with price target 1290p |
| * Cohort Plc CHRT.L: Jefferies initiates coverage with hold rating |
| * Coloplast COLOb.CO: Deutsche Bank cuts target price to DKK 460 from DKK 495 |
| * Commerzbank CBKG.DE: Morgan Stanley raises target price to EUR 39.5 from EUR 38.5 |
| * Draegerwerk AG & Co KGaA DRWG_p.DE: Alphavalue raises to add from reduce |
| * ENI ENI.MI: HSBC raises target price to EUR 23.5 from EUR 22 |
| * EQT EQTAB.ST: Jefferies cuts target price to SEK 370 from SEK 410 |
| * Equinor EQNR.OL: HSBC cuts target price to NOK 335 from NOK 355 |
| * Exail Technologies SA EXA.PA: TP ICAP Midcap raises PT to EUR 145 from EUR 128; rating "buy" |
| * Future Plc FUTR.L: Stifel cuts target price to 355p from 990p |
| * Future Plc FUTR.L: Stifel cuts to hold from buy |
| * GN Store Nord GN.CO: JP Morgan raises target price to DKK 131.8 from DKK 110 |
| * Grafton Group GFTU_u.L: Berenberg cuts target price to 1000p from 1100p |
| * Grafton Group GFTU_u.L: Stifel cuts target price to 1000p from 1175p |
| * IMI Plc IMI.L: Kepler Cheuvreux raises target price to 3080p from 2820p |
| * IMI Plc IMI.L: Kepler Cheuvreux raises to buy from hold |
| * Infineon Technologies AG IFXGn.DE: Citigroup raises PT to EUR 80 from EUR 52 |
| * Interpump Group ITPG.MI: UBS cuts target price to EUR 37.5 from EUR 39 |
| * Interpump Group SpA ITPG.MI: Kepler Cheuvreux cuts target price to EUR 43 from EUR 45 |
| * Interpump Group SpA ITPG.MI: Kepler Cheuvreux raises to buy from hold |
| * J Sainsbury Plc SBRY.L: Morgan Stanley initiates coverage with equal weight rating |
| * J Sainsbury Plc SBRY.L: Morgan Stanley initiates coverage with target price 345p |
| * K+S SDFGn.DE: UBS raises target price to EUR 12 from EUR 11.5 |
| * KBC Group NV KBC.BR: Morgan Stanley raises target price to EUR 133 from EUR 132 |
| * Lonza LONN.S: Deutsche Bank cuts target price to CHF 656 from CHF 695 |
| * LVMH LVMH.PA: BofA Global Research cuts PT to EUR 660 from EUR 675 |
| * Maersk MAERSKb.CO: Citigroup raises target price to DKK 16,444 from DKK 15,350 |
| * Marks and Spencer Group MKS.L: Morgan Stanley initiates coverage with overweight rating |
| * Marks and Spencer Group MKS.L: Morgan Stanley initiates coverage with PT 439p |
| * Merck KGaA MRCG.DE: Bernstein raises target price to EUR 121 from EUR 112 |
| * Munich Re MUVGn.DE: JP Morgan cuts target price to EUR 590 from EUR 655 |
| * NKT A/S NKT.CO: Jefferies raises target price to DKK 1305 from DKK 1008 |
| * OMV AG OMVV.VI: HSBC raises target price to EUR 51 from EUR 50 |
| * ON the Beach Group Plc OTB.L: Berenberg cuts target price to 280p from 330p |
| * Outokumpu OUT1V.HE: Alphavalue raises to add from sell |
| * Oxford Instruments OXIG.L: Berenberg cuts to hold from buy |
| * Oxford Instruments OXIG.L: Berenberg raises target price to 3000p from 2700p |
| * Qinetiq Group Plc QQ.L: Jefferies cuts target price to 470p from 575p |
| * Recordati RECI.MI: Barclays raises target price to EUR 50 from EUR 48 |
| * Reply SpA REY.MI: UBS cuts target price to EUR 159 from EUR 171 |
| * Repsol REP.MC: HSBC raises target price to EUR 25.5 from EUR 22 |
| * Repsol REP.MC: HSBC raises to buy from hold |
| * Rheinmetall AG RHMG.DE: Citigroup cuts target price to EUR 1408 from EUR 1480 |
| * Rheinmetall AG RHMG.DE: Citigroup raises to buy from neutral |
| * Saab SAABb.ST: Citigroup raises target price to SEK 527 from SEK 516 |
| * Saab SAABb.ST: Citigroup raises to neutral from sell |
| * Salzgitter AG SZGG.DE: Alphavalue raises to add from reduce |
| * SBB SBBb.ST: Citigroup resumes coverage with neutral rating |
| * SBB SBBb.ST: Citigroup resumes coverage with target price SEK 3.35 |
| * Schindler Holding SCHP.S: Barclays raises target price to CHF 320 from CHF 315 |
| * Shell Plc SHEL.L: HSBC raises target price to 3700p from 3350p |
| * Shell Plc SHEL.L: HSBC raises to buy from hold |
| * Siemens AG SIEGn.DE: Goldman Sachs raises target price to EUR 290 from EUR 235 |
| * Siemens Energy AG ENR1n.DE: Jefferies raises target price to EUR 215 from EUR 164 |
| * Springer Nature AG & Co KGaA SPGG.DE: Morgan Stanley ups PT to EUR 26.9 from EUR 24.3 |
| * Subsea 7 SUBC.OL: Jefferies raises target price to NOK 440 from NOK 395 |
| * SUSS Microtec SE SMHNn.DE: Jefferies raises target price to EUR 109 from EUR 58 |
| * Swatch Group AG UHR.S: BofA Global Research raises PT to CHF 215 from CHF 200 |
| * Technoprobe SpA TPRO.MI: BofA Global Research raises PT to EUR 38 from EUR 16.41 |
| * Technoprobe SpA TPRO.MI: BofA Global Research raises to buy from neutral |
| * Technoprobe SpA TPRO.MI: UBS raises target price to EUR 36 from EUR 18 |
| * Tesco Plc TSCO.L: Morgan Stanley initiates coverage with overweight rating |
| * Tesco Plc TSCO.L: Morgan Stanley initiates coverage with target price 560p |
| * TP TEPRF.PA: Goldman Sachs raises target price to EUR 67 from EUR 60 |
| * Unilever ULVR.L: Jefferies cuts target price to 3700p from 4300p |
| * Verbund AG VERB.VI: Morgan Stanley cuts target price to EUR 56 from EUR 61 |
| * Wienerberger WBSV.VI: UBS cuts target price to EUR 21 from EUR 23 |
