* Alfen ALFEN.AS: Deutsche Bank cuts to hold from buy

* Boliden AB BOL.ST: JP Morgan raises to neutral from underweight

* Pennon Group Plc PNN.L: RBC raises to outperform rating

* Picton Property Income Ltd PCTN.L: Peel Hunt raises to buy from hold

* URW URW.PA: Citigroup raises to buy from neutral

* Adidas AG ADSGn.DE: Bernstein raises target price to EUR 195 from EUR 185

* Adidas AG ADSGn.DE: JP Morgan raises target price to EUR 240 from EUR 227

* Adidas AG ADSGn.DE: Telsey Advisory Group raises target price to EUR 225 from EUR 205

* Adidas AG ADSGn.DE: UBS raises target price to EUR 231 from EUR 228

* Adidas AG ADSGn.DE: Wedbush raises target price to EUR 200 from EUR 193

* Airbus SE AIR.PA: Bernstein raises target price to EUR 190 from EUR 173

* Airbus SE AIR.PA: Morgan Stanley raises target price to EUR 190 from EUR 174

* Akzo Nobel NV AKZO.AS: Jefferies raisefs target price to EUR 79 from EUR 72

* Akzo Nobel NV AKZO.AS: Jefferies raises to buy from hold

* Alfen ALFEN.AS: Deutsche Bank cuts target price to EUR 50 from EUR 70

* Alfen ALFEN.AS: Deutsche Bank cuts to hold from buy

* Anglo American AAL.L: Citigroup raises target price to 2800p from 2500p

* Anglo American AAL.L: JP Morgan raises target price to 2600p from 2300p

* Ashtead Group Plc AHT.L: RBC raises target price to 5300p from 5100p

* Ashtead Technology Holdings Plc ATAS.L: Berenberg raises target price to 775p from 700p

* Ashtead Technology Holdings Plc ATAS.L: Peel Hunt raises target price to 825p from 700p

* Ashtead Technology Holdings Plc ATAS.L: Stifel raises target price to 770p from 750p

* Asos Plc ASOS.L: Berenberg cuts target price to 490p from 510p

* Asos Plc ASOS.L: JP Morgan cuts target price to 300p from 350p

* B&M BMEB.L: HSBC raises target price to 720p from 715p

* B&S Group SA BSGR.AS: ING raises to buy from hold; raises PT to EUR 7.25 from EUR 6

* Banca Pop. Sondrio BPSI.MI: Deutsche Bank raises target price to EUR 7.3 from EUR 7.1

* Banco Bpm BAMI.MI: Deutsche Bank raises target price to EUR 6.5 from EUR 6.1

* Barclays BARC.L: BofA Global Research raises price objective to 190p from 180p

* Barclays BARC.L: HSBC raises target price to 260p from 210p

* Bayer AG BAYGn.DE: Stifel cuts target price to EUR 30 from EUR 42

* Beiersdorf BEIG.DE: Deutsche Bank raises target price to EUR 125 from EUR 120

* Beiersdorf AG BEIG.DE: Barclays cuts target price to EUR 151 from EUR 154

* Beiersdorf AG BEIG.DE: Berenberg cuts target price to EUR 166 from EUR 167

* Beiersdorf AG BEIG.DE: Morgan Stanley raises target price to EUR 129 from EUR 127

* Biomerieux SA BIOX.PA: Jefferies raises target price to EUR 96 from EUR 90

* BMW BMWG.DE: Barclays raises target price to EUR 95 from EUR 85

* BMW BMWG.DE: Bernstein raises target price to EUR 132 from EUR 122

* Boliden AB BOL.ST: JP Morgan raises target price to SEK 335 from SEK 260

* Boliden AB BOL.ST: JP Morgan raises to neutral from underweight

* BPER Banca S.P.A. EMII.MI: Deutsche Bank raises target price to EUR 4.7 from EUR 4.3

* British Land BLND.L: Peel Hunt raises target price to 475p from 430p

* Bystronic AG BYS.S: Stifel cuts target price to CHF 425 from CHF 455

* Capital & Regional Plc CAL.L: Peel Hunt cuts target price to 60p from 65p

* Carl Zeiss Meditec AFXG.DE: Deutsche Bank raises target price to EUR 102 from EUR 98

* CLS Holdings Plc CLSH.L: Peel Hunt cuts target price to 105p from 135p

* CLS Holdings Plc CLSH.L: Peel Hunt raises to add from hold

* Commerzbank CBKG.DE: HSBC raises target price to EUR 18 from EUR 17.6

* Deutsche Lufthansa AG LHAG.DE: Deutsche Bank cuts target price to EUR 8 from EUR 8.8

* Deutsche Lufthansa AG LHAG.DE: UBS cuts target price to EUR 12.3 from EUR 13.6

* Direct Line Insurance DLGD.L: Goldman Sachs reinstates coverage with buy rating

* Direct Line Insurance DLGD.L: Goldman Sachs reinstates coverage with target price 280p

* DR ING HC F Porsche AG P911_p.DE: Bernstein raises target price to EUR 110 from EUR 100

* Endesa ELE.MC: Exane BNP Paribas raises to neutral from underperform

* Enel ENEI.MI: Exane BNP Paribas cuts to neutral from outperform

* Epiroc AB EPIRa.ST: UBS raises target price to SEK 265 from SEK 168

* Epiroc AB EPIRa.ST: UBS raises to buy from sell

* Ericsson ERICb.ST: Barclays cuts target price to SEK 48 from SEK 50

* Formycon AG FYB.DE: Berenberg cuts target price to EUR 100 from EUR 104

* Fraport FRAG.DE: HSBC raises target price to EUR 66 from EUR 61

* Fugro NV FUGR.AS: ING raises target price to EUR 28 from EUR 22

* Galapagos NV GLPG.AS: Citigroup cuts target price to EUR 30 from EUR 35

* Gerresheimer AG GXIG.DE: Stifel resumes coverage with buy rating; target price EUR 130

* Gestamp GEST.MC: JP Morgan cuts target price to EUR 3.2 from EUR 3.6

* Grainger GRI.L: Peel Hunt raises target price to 270p from 260p

* Great Portland Estates Plc GPEG.L: Peel Hunt cuts target price to 475p from 525p

* GSK GSK.L: BofA Global Research raises price objective to 1,700p from 1,433p

* Hays Plc HAYS.L: Morgan Stanley cuts target price to 90p from 93p

* Hexagon HEXAb.ST: Citigroup raises target price to SEK 125 from SEK 120

* Hochschild HOCM.L: JP Morgan raises target price to 235p from 190p

* Honkarakenne Oyj HONBS.HE: Inderes cuts PT to EUR 3.20 from EUR 3.30; rating reduce

* Hydro NHY.OL: JP Morgan raises target price to NOK 82 from NOK 76

* Iberdrola IBE.MC: HSBC raises target price to EUR 13.5 from EUR 13.1

* ING Groep NV INGA.AS: Berenberg raises target price to EUR 17.5 from EUR 16.5

* Integrafin Holdings Plc IHPI.L: Barclays raises target price to 360p from 350p

* Mediobanca MDBI.MI: Deutsche Bank raises target price to EUR 10.9 from EUR 9.9

* Medios AG ILM1k.DE: Berenberg cuts target price to EUR 35 from EUR 44

* Mercedes Benz Group AG MBGn.DE: Bernstein raises target price to EUR 100 from EUR 85

* Metro Bank Holdings Plc MTRO.L: Barclays cuts target price to 30p from 35p

* Michelin MICP.PA: Morgan Stanley raises target price to EUR 39 from EUR 37

* Moneysupermarket.com MONY.L: Barclays cuts target price to 290p from 295p

* Moneysupermarket.Com MONY.L: UBS cuts target price to 230p from 273p

* Netcompany Group A/S NETCG.CO: Citigroup raises target price to DKK 275 from DKK 250

* Newriver REIT Plc NRRT.L: Peel Hunt cuts target price to 85p from 95p

* Next 15 Group Plc NFGN.L: Stifel raises target price to 1,000p from 940p

* Nibe Industrier AB NIBEb.ST: Goldman Sachs initiates coverage with sell rating

* Nibe Industrier AB NIBEb.ST: Goldman Sachs initiates coverage with target price SEK 43

* Novozymes A/S NSISb.CO: Berenberg raises target price to DKK 450 from DKK 390

* Oma Saastopankki Oyj OMASP.HE: Inderes cuts PT to EUR 26.0 from EUR 27.5; rating buy

* Orange Belgium SA OBEL.BR: Morgan Stanley cuts target price to EUR 14 from EUR 15

* Orange SA ORAN.PA: JP Morgan resumes coverage with overweight rating; PT EUR 14.20

* Pennon Group Plc PNN.L: Bernstein cuts target price to 810p from 930p

* Pennon Group Plc PNN.L: Bernstein cuts to market-perform from outperform

* Pennon Group Plc PNN.L: RBC cuts target price to 850p from 875p

* Pennon Group Plc PNN.L: RBC raises to outperform rating

* Picton Property Income Ltd PCTN.L: Peel Hunt raises to buy from hold

* Pirelli & C SpA PIRC.MI: JP Morgan raises target price to EUR 7.20 from EUR 6.50

* Renault RENA.PA: Bernstein raises target price to EUR 64 from EUR 48

* Rio Tinto RIO.L: JP Morgan cuts target price to 6630p from 7040p

* RWE AG RWEG.DE: Bernstein cuts target price to EUR 47.50 from EUR 52.5

* Sabadell SABE.MC: Barclays raises target price to EUR 1.6 from EUR 1.5

* Sage Group SGE.L: Citigroup raises target price to 1350p from 1300p

* Salmar ASA SALM.OL: Berenberg cuts target price to NOK 640 from NOK 650

* Sandvik SAND.ST: UBS raises target price to SEK 250 from SEK 222

* Santander SAN.MC: Barclays raises target price to EUR 5.4 from EUR 5.3

* SCA AB SCAb.ST: JP Morgan cuts target price to SEK 142 from SEK 146

* SCA AB SCAb.ST: JP Morgan cuts to underweight from neutral

* Schott pharma AG & Co KGaA 1SXP.DE: Stifel initiates coverage with hold rating

* Schott pharma AG & Co KGaA 1SXP.DE: Stifel initiates coverage with price target EUR 40

* Segro SGRO.L: Peel Hunt raises target price to 950p from 905p

* Segro SGRO.L: UBS raises target price to 1045p from 990p

* Severn Trent SVT.L: Bernstein raises target price to 2760p from 2740p

* Severn Trent SVT.L: Bernstein raises to outperform from market-perform

* Sika AG SIKA.S: JP Morgan raises target price to CHF 260 from CHF 224

* Sika AG SIKA.S: Morgan Stanley raises target price to CHF 269 from CHF 263

* Soitec SA SOIT.PA: Bernstein cuts target price to EUR 165 from EUR 180

* Stora Enso Oyj STERV.HE: JP Morgan raises target price to EUR 14.3 from EUR 13.2

* Supermarket Income REIT Plc SUPR.L: Peel Hunt raises target price to 80p from 75p

* Topdanmark TOP.CO: Jefferies raises target price to DKK 315 from DKK 300

* Travis Perkins Plc TPK.L: Morgan Stanley cuts target price to 830p from 860p

* Travis Perkins Plc TPK.L: Morgan Stanley cuts target price to 830p from 860p

* Tritax Big Box BBOXT.L: Peel Hunt cuts to hold from add

* Tritax Big Box BBOXT.L: Peel Hunt raises target price to 165p from 150p

* Tritax Eurobox Plc EBOX.L: Peel Hunt raises target price to 60p from 55p

* TUI AG TUI1n.DE: Bernstein resumes coverage with market-perform rating

* TUI AG TUI1n.DE: Bernstein resumes coverage with price target EUR 6.8

* TUI AG TUIT.L: Bernstein resumes coverage with market-perform rating; PT 590p

* UCB SA UCB.BR: Barclays raises target price to EUR 150 from EUR 130

* UK Commercial Property REIT Ltd UKCM.L: Peel Hunt raises target price to 75p from 55p

* UMG UMG.AS: Morgan Stanley raises target price to EUR 31 from EUR 28

* Unicredit SpA CRDI.MI: Deutsche Bank raises target price to EUR 35.4 from EUR 30.7

* Uniper UN0k.DE: UBS cuts target price to EUR 38 from EUR 42

* Unite Group UTG.L: Peel Hunt raises target price to 1040p from 1030p

* United Utilities UU.L: Bernstein raises target price to 1310p from 1240p

* UPM-Kymmene Oyj UPM.HE: JP Morgan raises target price to EUR 36 from EUR 34.6

* URW URW.PA: Citigroup raises target price to EUR 85.2 from EUR 52.5

* URW URW.PA: Citigroup raises to buy from neutral

* Vat Group AG VACN.S: UBS raises target price to CHF 480 from CHF 380

* Virbac SA VIRB.PA: Stifel raises target price to EUR 369 from EUR 349

* Volkswagen AG VOWG.DE: Bernstein cuts to market-perform from outperform

* Volkswagen AG VOWG.DE: Bernstein raises target price to EUR 150 from EUR 135

* Volvo Car AB VOLCARB.ST: HSBC raises target price to SEK 52 from SEK 43

* Wise WISEa.L: UBS cuts target price t

* Wise Plc WISEa.L: Morgan Stanley raises target price to 1075p from 1070p

* Workspace WKP.L: Peel Hunt cuts target price to 600p from 615p

* Zurich Insurance Group AG ZURN.S: Barclays raises target price to CHF 520 from CHF 515