* Banco Bpm BAMI.MI: Morgan Stanley cuts to equal weight from overweight

* Firstgroup Plc FGP.L: RBC raises target price to 200p from 195p

* JCDecaux SE JCDX.PA: Deutsche Bank cuts to hold from buy

* Next Plc NXT.L: HSBC raises target price to 9,570p from 9,300p

* Xps Pensions Group Plc XPS.L: RBC raises target price to 315p from 270p

* Aak AAK.ST: UBS initiates coverage with buy rating and target price SEK 350

* Accelleron Industries AG ACLN.S: Berenberg initiates coverage with hold rating; PT CHF 39

* Anglo American AAL.L: Bernstein raises target price to 2,700p from 2,020p

* Anglo American AAL.L: Bernstein raises to outperform from market-perform

* Anglo American AAL.L: Morgan Stanley resumes coverage with equalweight rating; PT 2,270p

* Azelis AZE.BR: Deutsche Bank initiates coverage with hold rating and PT EUR 20.4

* Banco Bpm BAMI.MI: Morgan Stanley cuts to equal weight from overweight

* Banco Bpm BAMI.MI: Morgan Stanley raises target price to EUR 7.7 from EUR 7.1

* Bank of Ireland Group Plc BIRG.I: Morgan Stanley cuts to underweight from equalweight

* Besi BESI.AS: Redburn Atlantic raises to buy rating; raises PT to EUR 185 from EUR 145

* Boohoo BOOH.L: JP Morgan cuts target price to 37p from 45p

* Brenntag BNRGn.DE: Deutsche Bank cuts target price to EUR 86.3 from EUR 88.9

* Burberry BRBY.L: BofA Global Research cuts price objective to 1,000p from 1,050p

* Ceconomy AG CECG.DE: HSBC raises target price to EUR 3.2 from EUR 2.5

* Colruyt NV COLR.BR: HSBC raises target price to EUR 35 from EUR 30

* Cucinelli BCU.MI: BofA Global Research raises price objective to EUR 120 from EUR 118

* Deltic Energy Plc DELT.L: Canaccord Genuity cuts target price to 100p from 110p

* Deltic Energy Plc DELT.L: Stifel cuts target price to 70p from 125p

* Deutsche Telekom AG DTEGn.DE: Barclays raises target price to EUR 30.5 from EUR 29.5

* Deutsche Telekom AG DTEGn.DE: Barclays raises target price to EUR 30.5 from EUR 29.5

* E ON SE EONGn.DE: Citigroup raises target price to EUR 14.5 from EUR 12.7

* Edenred EDEN.PA: Deutsche Bank cuts target price to EUR 66 from EUR 68

* Elekta AB EKTAb.ST: Bernstein cuts target price to SEK 60 from SEK 67

* Elia Group SA ELI.BR: Citigroup cuts target price to EUR 109 from EUR 122

* Eurobank Ergasias Services and Holdings SA EURBr.AT: HSBC ups PT to EUR 3.5 from EUR 2

* Firstgroup Plc FGP.L: RBC raises target price to 200p from 195p

* Fnac Darty SA FNAC.PA: HSBC raises target price to EUR 32 from EUR 26

* Fresenius FREG.DE: Deutsche Bank raises target price to EUR 42 from EUR 41

* GB Group Plc GBGP.L: Barclays raises target price to 350p from 300p

* GB Group Plc GBGP.L: Peel Hunt raises target price to 400p from 360p

* H & M Hennes & Mauritz AB HMb.ST: Barclays raises PT to SEK 200 from SEK 190

* Hays HAYS.L: Exane BNP Paribas cuts to neutral from outperform

* Hikma HIK.L: Citigroup raises target price to 2,845p from 2,770p

* Hugo Boss AG BOSSn.DE: BofA Global Research cuts price objective to EUR 55 from EUR 65

* Intermediate Capital Group Plc ICGIN.L: UBS raises target price to 2,700p from 2,250p

* Interparfums SA IPAR.PA: Midcap Partners raises PT to EUR 60 from EUR 59; rating buy

* Intertek ITRK.L: Berenberg raises target price to 5,500p from 5,400p

* Intesa Sanpaolo SpA ISP.MI: Morgan Stanley raises target price to EUR 4.7 from EUR 4.2

* JCDecaux SE JCDX.PA: Deutsche Bank cuts to hold from buy

* Klepierre LOIM.PA: Berenberg raises target price to EUR 30 from EUR 26.5

* Komax Holding AG KOMN.S: Baader Helvea cuts to add from buy; cuts PT to CHF 175 from CHF 215

* Medincell SA MEDCL.PA: Midcap Partners raises PT to EUR 21.0 from EUR 17.0; rating buy

* Mediobanca MDBI.MI: Morgan Stanley raises target price to EUR 18.2 from EUR 16.9

* Mithra Pharmaceuticals SA MITRA.BR: KBC Securities drops coverage

* Nestle NESN.S: Deutsche Bank cuts target price to CHF 106 from CHF 110

* Next Plc NXT.L: HSBC raises target price to 9,570p from 9,300p

* Oxford Instruments OXIG.L: JP Morgan raises target price to 2,750p from 2,400p

* Pagegroup PAGE.L: Exane BNP Paribas raises to outperform from neutral

* Paragon Banking Group Plc PAGPA.L: UBS raises target price to 845p from 730p

* Poste Italiane PST.MI: Exane BNP Paribas initiates coverage with outperform rating

* Poste Italiane PST.MI: Exane BNP Paribas initiates coverage with target price EUR 15.5

* Qinetiq Group Plc QQ.L: Citigroup raises target price to 530p from 457p

* Redeia REDE.MC: Citigroup initiates coverage with buy rating; PT EUR 18.6

* Renew Holdings Plc RNWH.L: Peel Hunt raises target price to 1,250p from 1,150p

* Robert Walters Plc RWA.L: Exane BNP Paribas raises to outperform from neutral

* Salvatore Ferragamo SpA SFER.MI: BofA Global Research cuts price objective to EUR 9 from EUR 10

* Snam SRG.MI: Citigroup cuts target price to EUR 4.8 from EUR 5.3

* SSAB AB SSABa.ST: JP Morgan cuts target price to SEK 72 from SEK 77

* SSAB AB SSABb.ST: JP Morgan cuts target price to SEK 65 from SEK 69

* Stroeer SE & Co. KGaA SAXG.DE: Deutsche Bank raises PT to EUR 74 from EUR 64

* Terna TRN.MI: Citigroup raises target price to EUR 8.2 from EUR 7.5

* TUI AG TUIT.L: HSBC raises target price to 870p from 840p

* UCB SA UCB.BR: Citigroup raises target price to EUR 161 from EUR 126

* UCB SA UCB.BR: JP Morgan raises to neutral from underweight; ups PT to EUR 150 from EUR 70

* Unicredit CRDI.MI: Morgan Stanley raises target price to EUR 43 from EUR 40

* Xps Pensions Group Plc XPS.L: RBC raises target price to 315p from 270p

* European Equity Strategy: Citigroup Raises food & beverages sector to neutral

* European Equity Strategy: Citigroup raises travel & leisure sector to overweight

* European Equity Strategy: Citigroup raises financial services sector to overweight

* European Equity Strategy: Citigroup cuts construction materials sector to underweight from neutral

* European Equity Strategy: Citigroup cuts basic resources sector to neutral

* European Equity Strategy: Citigroup cuts consumer products sector to neutral