* Draegerwerk DRWG.DE: Jefferies raises to hold from underperform

* Hikma HIK.L: Berenberg raises to buy from hold

* Munters Group AB MTRS.ST: Jefferies raises to buy from hold

* Novartis AG NOVN.S: Jefferies cuts to hold from buy

* Swedencare AB (Publ) SECARE.ST: Jefferies raises to buy from hold

* Adesso SE ADNGk.DE: Jefferies cuts to hold from buy; cuts PT to EUR 75 from EUR 145

* Afry AB AFRY.ST: Jefferies initiates coverage with buy rating; price target SEK 270

* Airbus AIR.PA: Barclays cuts target price to EUR 170 from EUR 176

* Alfen NV ALFEN.AS: Jefferies cuts target price to EUR 15 from EUR 20

* Alstom ALSO.PA: Bernstein resumes coverage with market-perform rating; PT EUR 17

* Alumasc Group Plc ALUG.L: Peel Hunt raises target price to 300p from 250p

* Apax Global Alpha APAX.L: Barclays cuts target price to 181p from 200p

* Arcadis NV ARDS.AS: Jefferies raises target price to EUR 75 from EUR 72.50

* Ashtead Technology Holdings Plc ATAS.L: Deutsche Bank raises PT to 860p from 835p

* Ashtead Technology Holdings Plc ATAS.L: Deutsche Bank raises to buy from hold

* Ashtead Technology Holdings Plc ATAS.L: Peel Hunt raises PT to 850p from 825p

* Assa Abloy AB ASSAb.ST: Bernstein raises target price to SEK 389 from SEK 373

* Augmentum Fintech AUGM.L: Barclays raises target price to 139p from 128p

* Azelis AZE.BR: Jefferies raises target price to EUR 24 from EUR 19

* Azelis AZE.BR: Jefferies raises to buy from hold; raises PT to EUR 24 from EUR 19

* Barratt BDEV.L: Barclays reinstates coverage with overweight rating; target price 641p

* Basler AG BSLG.DE: Jefferies cuts target price to EUR 13.50 from EUR 15

* BMW BMWG.DE: Exane BNP Paribas cuts to neutral from outperform

* BMW BMWG.DE: Jefferies cuts target price to EUR 95 from EUR 110

* Bunzl Plc BNZL.L: Morgan Stanley raises target price to 3,600p from 3,300p

* Cancom SE COKG.DE: Jefferies cuts target price to EUR 28 from EUR 30

* Chrysalis Investments CHRY.L: Barclays raises target price to 112p from 96p

* Compagnie Du Bois Sauvage SA CBOS.BR: KBC Securities cuts rating to "hold" from "accumulate"

* Compugroup Medical SE & Co KGaA COP1n.DE: Jefferies cuts PT to EUR 16 from EUR 18

* Continental AG CONG.DE: Bernstein raises target price to EUR 55 from EUR 54

* Craneware Plc CRW.L: Panmure Liberum raises target price to 2,750p from 2,700p

* CTS Eventim EVDG.DE: Jefferies raises target price to EUR 100 from EUR 92

* Dermapharm Holding SE DMPG.DE: Jefferies cuts target price to EUR 49 from EUR 51

* Deutsche Bank DBKGn.DE: Barclays raises target price to EUR 22 from EUR 14

* Dino Polska SA DNP.WA: JP Morgan cuts target price to PLN 330 from PLN 360

* Diploma Plc DPLM.L: Berenberg raises target price to 5,200p from 4,700p

* Discoverie Group Plc DSCV.L: Berenberg cuts target price to 950p from 1,030p

* Docmorris AG DOCM.S: Jefferies cuts target price to CHF 65 from CHF 110

* Draegerwerk DRWG.DE: Jefferies raises target price to EUR 47 from EUR 42

* Draegerwerk DRWG.DE: Jefferies raises to hold from underperform

* EDAG Engineering Group AG ED4.DE: Berenberg cuts target price to EUR 12 from EUR 13.50

* Ence ENC.MC: Jefferies cuts to hold from buy; cuts PT to EUR 3.50 from EUR 3.80

* Friedrich Vorwerk Group SE VH2.DE: Jefferies raises PT to EUR 23 from EUR 16

* Glencore GLEN.L: Bernstein cuts target price to 540p from 545p

* GN Store Nord GN.CO: Citigroup raises target price to DKK 225 from DKK 220

* Harbourvest Global Private Equity HVPEa.L: Barclays cuts PT to 3,020p from 3,180p

* HgCapital Trust HGT.L: Barclays raises target price to 600p from 496p

* Hikma HIK.L: Berenberg raises target price to 2,400p from 2,100p

* Hikma HIK.L: Berenberg raises to buy from hold

* Hunting Plc HTG.L: Jefferies raises target price to 530p from 500p

* Husqvarna AB HUSQb.ST: Jefferies cuts target price to SEK 100 from SEK 105

* ICG Enterprise Trust ICGT.L: Barclays cuts target price to 1,570p from 1,590p

* IMCD NV IMCD.AS: Jefferies raises to buy from hold; raises PT to EUR 170 from EUR 140

* IMI Plc IMI.L: Berenberg raises target price to 2,100p from 1,950p

* Inpost SA INPST.AS: Jefferies raises target price to EUR 20 from EUR 17.50

* Jeronimo Martins JMT.LS: JP Morgan cuts target price to EUR 24 from EUR 25

* JTC Plc JTC.L: Berenberg raises target price to 1,300p from 1,150p

* Judges Scientific Plc JDG.L: Jefferies initiates coverage with buy rating and 12,230p price target

* Kone Oyj KNEBV.HE: Bernstein raises target price to EUR 61 from EUR 60

* La Francaise Des Jeux Saem FDJ.PA: Deutsche Bank raises PT to EUR 42 from EUR 38

* La Francaise Des Jeux Saem FDJ.PA: Deutsche Bank raises to buy from hold

* Macfarlane Group Plc MACF.L: Berenberg cuts target price to 140p from 150p

* ME Group International Plc MEGPM.L: Berenberg raises target price to 270p from 200p

* Mercedes-Benz Group AG MBGn.DE: Jefferies cuts target price to EUR 90 from EUR 100

* Meyer Burger Technology AG MBTN.S: Jefferies cuts PT to CHF 1.80 from CHF 8.60

* Michelmersh Brick Holdings Plc MBH.L: Canaccord Genuity cuts PT to 170p from 180p

* Mobico Group Plc MCG.L: Citigroup raises target price to 105p from 90p

* Molten Ventures GROW.L: Barclays raises target price to 475p from 330p

* Munters Group AB MTRS.ST: Jefferies raises to buy from hold

* Nagarro SE NA9n.DE: Jefferies cuts target price to EUR 105 from EUR 112

* NB Private Equity Partners NBPE.L: Barclays cuts target price to 1,790p from 1,940p

* Next Plc NXT.L: Exane BNP Paribas cuts to neutral from outperform

* Novartis AG NOVN.S: Jefferies cuts target price to CHF 105 from CHF 110

* Novartis AG NOVN.S: Jefferies cuts to hold from buy

* Nykode Therapeutics ASA NYKD.OL: Jefferies cuts target price to NOK 12 from NOK 17.50

* Oersted A/S ORSTED.CO: Bernstein cuts target price to DKK 540 from DKK 550

* OMV OMVV.VI: UBS raises target price to EUR 45 from EUR 41

* OMV OMVV.VI: UBS raises to buy from neutral

* Oxford Instruments OXIG.L: Berenberg cuts target price to 2,925p from 2,945p

* Oxford Nanopore Technologies Plc ONT.L: JP Morgan cuts target price to 200p from 210p

* Pandora PNDORA.CO: Morgan Stanley raises target price to DKK 1,230 from DKK 1,150

* Pantheon International PANI.L: Barclays raises target price to 420p from 396p

* Partners Group Private Equity PEY.L: Barclays raises target price to 1,090p from 1,050p

* Pernod Ricard PERP.PA: HSBC cuts target price to EUR 135 from EUR 137

* Pierer Mobility AG PKTM.VI: Jefferies cuts target price to CHF 28 from CHF 45

* Polar Capital Holdings Plc POLR.L: Deutsche Bank raises target price to 570p from 510p

* Prudential Plc PRU.L: Barclays cuts target price to 1,250p from 1,380p

* Puma SE PUMG.DE: Exane BNP Paribas raises to outperform from neutral

* PVA Tepla AG TPEG.DE: Jefferies cuts target price to EUR 20 from EUR 23

* Redcare Pharmacy NV RDC.DE: Jefferies cuts target price to EUR 170 from EUR 180

* Restore Plc RSTP.L: Berenberg raises target price to 330p from 290p

* Sanofi SASY.PA: Guggenheim raises target price to EUR 127 from EUR 125

* Sartorius AG SATG.DE: RBC initiates coverage with sector perform rating; PT EUR 295

* Sartorius Stedim Biotech SA STDM.PA: RBC initiates coverage with outperform rating

* Sartorius Stedim Biotech SA STDM.PA: RBC initiates coverage with target price EUR 270

* Scandic Hotels Group AB SHOTE.ST: Jefferies raises target price to SEK 65 from SEK 50

* Schindler Holding AG SCHP.S: Bernstein raises target price to CHF 273 from CHF 238

* Schindler Holding AG SCHP.S: Bernstein raises to outperform from market-perform

* Schneider Electric SCHN.PA: Deutsche Bank raises target price to EUR 220 from EUR 215

* Siemens AG SIEGn.DE: Bernstein cuts target price to EUR 220 from EUR 222

* Skistar AB SKISb.ST: Jefferies raises target price to SEK 155 from SEK 135

* SMA Solar S92G.DE: Jefferies cuts target price to EUR 25 from EUR 30

* Smiths News Plc SNWS.L: Berenberg raises target price to 70p from 65p

* STV Group Plc STVG.L: Panmure Liberum raises target price to 382p from 370p

* Sweco AB (Publ) SWECb.ST: Jefferies initiates coverage with hold rating

* Sweco AB (Publ) SWECb.ST: Jefferies initiates coverage with price target SEK 180

* Swedencare AB (Publ) SECARE.ST: Jefferies raises to buy from hold

* Tenaris TENR.MI: Jefferies cuts target price to EUR 14.50 from EUR 16

* Tesco Plc TSCO.L: UBS raises target price to 400p from 330p

* Tomra Systems ASA TOM.OL: Jefferies raises target price to NOK 155 from NOK 130

* Trelleborg TRELb.ST: Barclays raises target price to SEK 470 from SEK 441

* Ubisoft UBIP.PA: JP Morgan cuts target price to EUR 21 from EUR 23

* Vallourec VLLP.PA: Jefferies cuts target price to EUR 19 from EUR 20

* Vimian Group AB VIMIAN.ST: Jefferies raises target price to SEK 50 from SEK 40

* Virbac SA VIRB.PA: Midcap Partners raises PT to EUR 393 from EUR 389; rating "buy"

* Volkswagen AG VOWG.DE: Exane BNP Paribas raises to outperform from neutral

* Volkswagen AG VOWG_p.DE: Exane BNP Paribas raises to outperform from neutral

* Volvo Car AB VOLCARb.ST: Exane BNP Paribas cuts to underperform from neutral

* Wacker Neuson SE WACGn.DE: Jefferies cuts target price to EUR 16 from EUR 19