| * A.P. Moller-Maersk MAERSKb.CO: Deutsche Bank raises target to DKK 9,500 from DKK 9,000 |
| * Aia AIAr.AT: Deutsche Bank raises target price to EUR 10.25 from EUR 9 |
| * Air France-KLM AIRF.PA: Deutsche Bank cuts to sell from hold |
| * Arkema SA AKE.PA: JP Morgan cuts target price to EUR 68.5 from EUR 92 |
| * Arkema SA AKE.PA: JP Morgan cuts to underweight from neutral |
| * Avon Technologies Plc AVON.L: Barclays raises target price to 1,610p from 1,550p |
| * Baloise BALN.S: HSBC raises target price to CHF 181 from CHF 171 |
| * BASF SE BASFn.DE: JP Morgan cuts target price to EUR 45 from EUR 52 |
| * BASF SE BASFn.DE: JP Morgan cuts to underweight from neutral |
| * Beazley BEZG.L: Peel Hunt raises target price to 995p from 880p |
| * BMW AG BMWG.DE: Barclays cuts to underweight from equal-weight |
| * BMW AG BMWG.DE: Barclays raises target price to EUR 73.5 from EUR 68.5 |
| * Burberry Group BRBY.L: HSBC cuts target price to 1,200p from 1,400p |
| * Clariant AG CLN.S: JP Morgan cuts target price to CHF 10 from CHF 14 |
| * Commerzbank AG CBKG.DE: Goldman Sachs reinstates coverage with neutral rating |
| * Croda CRDA.L: JP Morgan cuts target price to 3600p from 3875p |
| * Croda International CRDA.L: UBS cuts target price to 4,900p from 5,100p |
| * Croda International Plc CRDA.L: HSBC cuts target price to 3,300p from 3,600p |
| * Daimler Truck Holding AG DTGGe.DE: Morgan Stanley cuts target to EUR 46 from EUR 48 |
| * Deutsche Lufthansa AG LHAG.DE: Deutsche Bank raises target price to EUR 8 from EUR 6.5 |
| * Deutsche Lufthansa AG LHAG.DE: Morgan Stanley cuts target price to EUR 6.4 from EUR 6.75 |
| * Diploma Plc DPLM.L: Peel Hunt raises target price to 5,400p from 5,100p |
| * EasyJet EZJ.L: Deutsche Bank cuts target price to 600p from 715p |
| * EasyJet EZJ.L: Deutsche Bank cuts to hold from buy |
| * EasyJet Plc EZJ.L: Morgan Stanley cuts target price to 680p from 720p |
| * Evoke Plc EVOK.L: Deutsche Bank raises target price to 88p from 74p |
| * Evoke Plc EVOK.L: JP Morgan cuts target price to 77p from 95p |
| * Evonik Industries AG EVKn.DE: JP Morgan cuts target price to EUR 23.8 from EUR 25 |
| * Fuchs FPE3_p.DE: Barclays raises target price to EUR 58 from EUR 55 |
| * Gamma Communications Plc GAMA.L: Barclays cuts target price to 2,000p from 2,150p |
| * Groupe ADP ADP.PA: Deutsche Bank cuts target price to EUR 115 from EUR 130 |
| * Hammerson HMSO.L: Peel Hunt cuts target price to 285p from 300p |
| * Heidelberg Materials HEIG.DE: Jefferies raises target price to EUR 200 from EUR 166.40 |
| * Helios Towers HTWS.L: Barclays raises target price to 125p from 120p |
| * Hellofresh SE HFGG.DE: Barclays cuts target price to EUR 10.5 from EUR 11.1 |
| * IAG ICAG.MC: Morgan Stanley cuts target price to EUR 4.6 from EUR 4.8 |
| * ING Groep NV INGA.AS: Goldman Sachs raises to buy rating |
| * Ithaca Energy Plc ITH.L: Morgan Stanley raises target price to 160p from 127p |
| * Jet2 Plc JET2.L: Morgan Stanley cuts target price to 2,040p from 2,100p |
| * Jost Werke JST.DE: Deutsche Bank raises target price to EUR 62 from EUR 60 |
| * K+S SDFGn.DE: JP Morgan raises target price to EUR 12 from EUR 11.5 |
| * Kering PRTP.PA: Barclays cuts target price to EUR 192 from EUR 195 |
| * Kering PRTP.PA: Citigroup cuts target price to EUR 222 from EUR 260 |
| * Kerry Group KYGa.L: Barclays cuts target price to 11,000p from 11,200p |
| * Kuehne + Nagel KNIN.S: HSBC raises target price to CHF 220 from CHF 206 |
| * Lanxess AG LXSG.DE: JP Morgan cuts target price to EUR 22 from EUR 23 |
| * Localiza RENT3.SA: HSBC cuts target price to BRL 50 from BRL 60 |
| * L'Oreal S.A OREP.PA: Morgan Stanley cuts target price to EUR 377 from EUR 379 |
| * LVMH LVMH.PA: HSBC cuts target price to EUR 845 from EUR 888 |
| * M&G MNG.L: JP Morgan raises target price to 275p from 270p |
| * Nemetschek SE NEKG.DE: Baader Helvea raises target price to EUR 122 from EUR 120 |
| * Nestle SA NESN.S: Jefferies raises target price to CHF 75 from CHF 67 |
| * Novo Nordisk NOVOb.CO: Morgan Stanley cuts target price to DKK 600 from DKK 700 |
| * Patrizia SE PATGn.DE: Deutsche Bank raises target price to EUR 11 from EUR 9.9 |
| * Pets at Home PETSP.L: Barclays initiates coverage with equal-weight rating |
| * Pets at Home PETSP.L: Barclays initiates coverage with target price 260p |
| * Renk Group AG R3NK.DE: Kepler Cheuvreux cuts to hold from buy |
| * Renk Group AG R3NK.DE: Kepler Cheuvreux raises target price to EUR 50 from EUR 31 |
| * Rentokil RTO.L: JP Morgan cuts target price to 410p from 430p |
| * Rockwool ROCKb.CO: Citigroup raises target price to DKK 3,300 from DKK 3,000 |
| * Royal Unibrew A/S RBREW.CO: Goldman Sachs initiates coverage with buy rating; PT DKK 630 |
| * RS Group Plc RS1R.L: Citigroup cuts target price to 800p from 900p |
| * Ryanair RYA.I: Deutsche Bank raises target price to EUR 25.5 from EUR 20 |
| * Ryanair RYA.I: Deutsche Bank raises to buy from hold |
| * Ryanair Holdings Plc RYA.I: Morgan Stanley cuts target price to EUR 21.7 from EUR 22.2 |
| * Shaftesbury Capital Plc SHCS.L: UBS raises target price to 165p from 155p |
| * Siemens Energy ENR1n.DE: Deutsche Bank raises target price to EUR 68 from EUR 65 |
| * Siemens Energy AG ENR1n.DE: Morgan Stanley raises target price to EUR 66 from EUR 65 |
| * Sodexo EXHO.PA: HSBC cuts target price to EUR 66 from EUR 110 |
| * Sodexo SA EXHO.PA: Barclays cuts target price to EUR 64 from EUR 90 |
| * Sodexo SA EXHO.PA: Barclays cuts to equal-weight from overweight |
| * Solvay SOLB.BR: JP Morgan cuts target price to EUR 39 from EUR 40 |
| * SSE SSE.L: JP Morgan cuts target price to 2,075p from 2,100p |
| * SSE SSE.L: RBC cuts target price to 1900p from 2075p |
| * Supermarket Income REIT Plc SUPR.L: Stifel raises target price to 90p from 80p |
| * Syensqo NV SYENS.BR: JP Morgan cuts target price to EUR 90 from EUR 122 |
| * Symrise SY1G.DE: Deutsche Bank cuts target price to EUR 123 from EUR 125 |
| * Synthomer SYNTS.L: JP Morgan cuts target price to 245p from 250p |
| * Technogym TGYM.MI: UBS raises target price to EUR 13.8 from EUR 11.5 |
| * Technogym SpA TGYM.MI: Stifel raises target price to EUR 12 from EUR 11.5 |
| * Terna Rete Elettrica Nazionale SpA TRN.MI: Morgan Stanley ups PT to EUR 8 from EUR 7.6 |
| * Terna S.P.A. TRN.MI: Deutsche Bank raises target price to EUR 8.5 from EUR 8.2 |
| * Traton SE 8TRA.DE: Morgan Stanley raises target price to EUR 35 from EUR 32 |
| * UBS Group AG UBSG.S: BofA Global Research cuts price objective to CHF 28 from CHF 30 |
| * UBS Group AG UBSG.S: BofA Global Research cuts to underperform from neutral |
| * Umg UMG.AS: HSBC raises target price to EUR 25.5 from EUR 25.4 |
| * Umicore SA UMI.BR: JP Morgan cuts target price to EUR 13.3 from EUR 16.5 |
| * Unicredit CRDI.MI: Goldman Sachs reinstates coverage with buy rating |
| * Victrex Plc VCTX.L: JP Morgan cuts target price to 1,050p from 1,640p |
| * Victrex Plc VCTX.L: JP Morgan cuts to neutral from overweight |
| * Vistry Group Plc VTYV.L: RBC raises target price to 500p from 475p |
| * Vistry Group Plc VTYV.L: UBS cuts target price to 450p from 495p |
| * Volvo VOLVb.ST: Morgan Stanley raises target price to SEK 340 from SEK 323 |
| * Wacker Chemie AG WCHG.DE: JP Morgan cuts target price to EUR 84 from EUR 107 |
| * WAG Payment Solutions Plc WPS.L: Deutsche Bank cuts target price to 90p from 105p |
