| * Arbonia AG ARBNO.S: UBS cuts target price to CHF 5.7 from CHF 11 |
| * Alphawave IP Group Plc AWE.L: Jefferies cuts to hold from buy |
| * Alphawave IP Group Plc AWE.L: Jefferies raises target price to 183p from 160p |
| * AMG Critical Materials AMG.AS: Deutsche Bank initiates with buy rating and PT EUR 25 |
| * Antofagasta ANTO.L: Morgan Stanley cuts target price to 1690p from 1730p |
| * Ariston Holding NV ARIS.MI: Morgan Stanley cuts target price to EUR 3.6 from EUR 3.7 |
| * ASMI ASMI.AS: Jefferies cuts to hold from buy; raises target to EUR 530 from EUR 490 |
| * ASML Holding NV ASML.AS: Jefferies cuts to hold from buy |
| * ASML Holding NV ASML.AS: Jefferies raises target price to EUR 690 from EUR 660 |
| * British Land BLND.L: UBS cuts target price to 410p from 465p |
| * British Land BLND.L: UBS cuts to neutral from buy |
| * BT BT.L: Berenberg reinitiates coverage with buy rating; price target 240p |
| * Carrefour CARR.PA: JP Morgan cuts target price to EUR 9 from EUR 10 |
| * Cellnex CLNX.MC: Berenberg reinitiates coverage with buy rating; price target EUR 46 |
| * Continental AG CONG.DE: Morgan Stanley cuts to equal weight from overweight |
| * Continental AG CONG.DE: Morgan Stanley raises target price to EUR 77.4 from EUR 74 |
| * Danone DANO.PA: HSBC cuts target price to EUR 70 from EUR 71 |
| * Deutsche Telekom AG DTEGn.DE: Berenberg raises target price to EUR 37.20 from EUR 31 |
| * Dexelance SpA DEX.MI: Citigroup cuts target price to EUR 12.80 from EUR 14.80 |
| * E.ON SE EONGn.DE: Berenberg raises target price to EUR 18 from EUR 15.90 |
| * Edenred EDEN.PA: Citigroup cuts target price to EUR 27 from EUR 33 |
| * Elisa ELISA.HE: Berenberg reinitiates coverage with buy rating; price target EUR 54 |
| * Elkem ASA ELK.OL: Morgan Stanley raises target price to NOK 22 from NOK 21 |
| * Epiroc EPIRa.ST: JP Morgan raises target price to SEK 200 from SEK 185 |
| * EQT EQTAB.ST: Citigroup raises to buy from neutral; raises target SEK 335 from SEK 270 |
| * Exosens Sas EXENS.PA: Kepler Cheuvreux cuts to reduce from hold |
| * FLSmidth FLS.CO: JP Morgan raises target price to DKK 450 from DKK 425 |
| * Forvia FRVIA.PA: Morgan Stanley cuts target price to EUR 9.1 from EUR 11 |
| * Fuchs SE FPEn.DE: Jefferies initiates coverage with buy rating; target price EUR 58 |
| * Heidelberg Materials HEIG.DE: UBS raises target price to EUR 188 from EUR 168 |
| * Huhtamaki Oyj HUH1V.HE: UBS initiates coverage with buy rating |
| * IAG ICAG.L: Bernstein raises to outperform from market-perform |
| * IAG ICAG.L: Bernstein raises target price to 450p from 300p |
| * Icade SA ICAD.PA: Citigroup cuts target price to EUR 33.40 from EUR 40 |
| * Infrastrutture Wireless Italiane SpA INWT.MI: Berenberg reinitiates with buy rating; PT EUR 12.30 |
| * Inpost SA INPST.AS: JP Morgan cuts target price to EUR 16 from EUR 18.70 |
| * Inpost SA INPST.AS: JP Morgan raises to overweight from neutral |
| * Intrum AB INTRUM.ST: JP Morgan raises target price to SEK 46 from SEK 45 |
| * Italgas IG.MI: Berenberg cuts to hold from buy; raises target price to EUR 7 from EUR 6.30 |
| * Italgas IG.MI: Morgan Stanley assumes coverage with overweight rating; target EUR 8.10 |
| * JP Morgan European Discovery Trust Plc JEDT.L: Stifel raises to positive from neutral |
| * Kering PRTP.PA: Deutsche Bank cuts target price to EUR 170 from EUR 177 |
| * Koninklijke Ahold Delhaize NV AD.AS: JP Morgan cuts target to EUR 24.24 from EUR 25.42 |
| * Koninklijke Philips N.V. PHG.AS: Barclays cuts target price to EUR 27.5 from EUR 28 |
| * KPN KPN.AS: Berenberg reinitiates coverage with buy rating; price target EUR 4.78 |
| * Liontrust LIO.L: Deutsche Bank cuts target price to 350p from 400p |
| * Michelin MICP.PA: Deutsche Bank cuts target price to EUR 37 from EUR 40 |
| * Moonpig Group Plc MOONM.L: JP Morgan raises target price to 275p from 250p |
| * Next 15 Group Plc NFGN.L: Berenberg cuts target price to 580p from 660p |
| * Next 15 Group Plc NFGN.L: Panmure Liberum cuts target price to 329p from 382p |
| * Next 15 Group Plc NFGN.L: Peel Hunt cuts target price to 435p from 520p |
| * Novonesis NSISb.CO: Jefferies raises target price to DKK 540 from DKK 500 |
| * Opmobility SE OPM.PA: Morgan Stanley cuts target price to EUR 10.2 from EUR 13.4 |
| * Opmobility SE OPM.PA: Morgan Stanley cuts to underweight from overweight |
| * Orange SA ORAN.PA: Berenberg initiates coverage with buy rating; price target EUR 15 |
| * Philogen SpA PHIL.MI: Stifel cuts target price to EUR 27 from EUR 31 |
| * Proximus NV PROX.BR: Berenberg initiates coverage with buy rating; price target EUR 11.10 |
| * Qiagen NV QIA.DE: BofA Global Research raises price objective to EUR 45 from EUR 44 |
| * Rexel SA RXL.PA: Barclays raises target price to EUR 31 from EUR 27 |
| * Rolls Royce RR.L: Kepler Cheuvreux cuts to hold from buy |
| * Rolls Royce RR.L: Kepler Cheuvreux raises target price to 952p from 765p |
| * SES SA SESFd.PA: Berenberg reinitiates coverage with buy rating; price target EUR 9.60 |
| * Siegfried Holding AG SFZN.S: Stifel adjusts PT to CHF 95 from CHF 975 to reflect 1:10 stock split |
| * Siemens Energy AG ENR1n.DE: Morgan Stanley raises target price to EUR 92 from EUR 90 |
| * Spectris SXS.L: UBS raises target price to 3763p from 2800p |
| * Sunrise Communications AG SUNN.S: Berenberg initiates with hold rating; target CHF 49 |
| * Swisscom AG SCMN.S: Berenberg reinitiates coverage with hold rating; target CHF 569 |
| * Tele2 AB TEL2b.ST: Berenberg reinitiates coverage with hold rating; target SEK 125 |
| * Telecom Italia TLIT.MI: Berenberg initiates coverage with buy rating; target EUR 0.52 |
| * Telefonica TEF.MC: Berenberg initiates coverage with hold rating; price target EUR 4.30 |
| * Telenor TEL.OL: Berenberg reinitiates coverage with hold rating; price target NOK 138 |
| * Telia TELIA.ST: Berenberg reinitiates coverage with hold rating; price target SEK 31 |
| * THG Plc THG.L: Barclays cuts target price to 33p from 74p |
| * Trigano SA: Portzamparc cuts target price to EUR 178 from EUR 188; rating "buy" |
| * Trigano SA TRIA.PA: UBS raises target price to EUR 165 from EUR 148 |
| * Valeo SE VLOF.PA: Morgan Stanley raises target price to EUR 11.3 from EUR 9 |
| * Valeo SE VLOF.PA: Morgan Stanley raises to overweight from underweight |
| * Vodafone VOD.L: Berenberg reinitiates coverage with hold rating; price target 80p |
| * Volex Plc VLX.L: Peel Hunt raises target price to 380p from 365p |
| * Zegona Communications Plc ZEG.L: Berenberg initiates with buy rating; target 1000p |
