EUROPE RESEARCH ROUNDUP-Admiral, Dowlais Group, Tullow Oil

Admiral ADML.L: Peel Hunt cuts to reduce from hold

Alk-Abello A/S ALKb.CO: Jefferies raises to buy from hold

Dowlais Group Plc DWL.L: Peel Hunt cuts to hold from buy

Surgical Science Sweden AB SUSW.ST: Berenberg cuts to hold from buy

Tullow Oil Plc TLW.L: Panmure Liberum cuts to hold from buy

3I Group III.L: Deutsche Bank raises target price to 4410p from 4285p

ABB ABBN.S: Morgan Stanley cuts target price to CHF 47 from CHF 48

Adecco Group ADEN.S: Morgan Stanley cuts target price to CHF 21.5 from CHF 22

Admiral ADML.L: Peel Hunt cuts to reduce from hold

Admiral ADML.L: Peel Hunt raises target price to 2300p from 1945p

Ahold Delhaize AD.AS: HSBC raises target price to EUR 40 from EUR 37

Aib Group Plc AIBG.I: Morgan Stanley raises target price to EUR 5.4 from EUR 5

Alk-Abello A/S ALKb.CO: Jefferies raises target price to DKK 185 from DKK 153

Alk-Abello A/S ALKb.CO: Jefferies raises to buy from hold

Allfunds Group Plc ALLFG.AS: UBS cuts target price to EUR 5.25 from EUR 5.75

Allfunds Group Plc ALLFG.AS: UBS cuts to neutral from buy

Alliance pharma Plc ALAPH.L: RBC cuts to sector perform from outperform

Alliance pharma Plc ALAPH.L: RBC raises target price to 62p from 60p

Ambu A/S AMBUb.CO: JP Morgan raises target price to DKK 90 from DKK 76

Bakkavor BAKK.L: RBC initiates coverage with outperform rating; price target 170p

Balfour Beatty BALF.L: Jefferies raises target price to 552p from 518p

BBVA BBVA.MC: HSBC raises target price to EUR 13 from EUR 10.3

BBVA BBVA.MC: HSBC raises to buy from hold

Caixabank CABK.MC: RBC raises target price to EUR 5.75 from EUR 5.65

Caixabank SA CABK.MC: Morgan Stanley raises target price to EUR 6.5 from EUR 6.25

Carrefour CARR.PA: HSBC cuts to hold from buy; cuts PT to EUR 14 from EUR 22

Colruyt COLR.BR: HSBC cuts target price to EUR 32 from EUR 35

De' Longhi SpA DLG.MI: Berenberg raises target price to EUR 37 from EUR 34

Deutsche Bank AG DBKGn.DE: RBC cuts target price to EUR 22 from EUR 22.50

Dowlais Group Plc DWL.L: Peel Hunt cuts target price to 85p from 100p

Dowlais Group Plc DWL.L: Peel Hunt cuts to hold from buy

Dowlais Group Plc DWL.L: RBC raises target price to 100p from 80p

DSM-Firmenich AG DSFIR.AS: Jefferies cuts target price to EUR 128 from EUR 135

Elia ELI.BR: Morgan Stanley cuts target price to EUR 100 from EUR 130

Elis ELIS.PA: Deutsche Bank cuts target price to EUR 28 from EUR 29

Endeavour Mining Plc EDV.L: Berenberg cuts target price to 2300p from 2400p

Ericsson ERICb.ST: Barclays cuts target price to SEK 70 from SEK 80, keeps underweight rating

Ecora Resources Plc ECORE.L: Canaccord Genuity raises target price to 145p from 140p

Eutelsat Communications ETL.PA: Deutsche Bank cuts PT to EUR 1.6 from EUR 2.8

Fevertree Drinks Plc FEVR.L: Goldman Sachs raises to neutral from sell

Glencore GLEN.L: Barclays cuts target price to 485p from 500p

Greencore GNC.L: RBC initiates coverage with outperform rating; price target 240p

Helvetia HELN.S: Deutsche Bank raises target price to CHF 169 from CHF 148

Kone Corporation KNEBV.HE: Deutsche Bank cuts target price to EUR 50 from EUR 51

Logitech LOGN.S: Deutsche Bank raises target price to CHF 80 from CHF 60

Logitech LOGN.S: Deutsche Bank raises to hold from sell

Logitech International SA LOGN.S: Berenberg raises target price to CHF 102 from CHF 98

LVMH LVMH.PA: RBC raises target price to EUR 780 from EUR 700

Merck KGaA MRCG.DE: Deutsche Bank cuts target price to EUR 174 from EUR 180

Metro AG B4B.DE: HSBC cuts target price to EUR 3.5 from EUR 4.2

Neste Corporation NESTE.HE: Morgan Stanley cuts target price to EUR 15 from EUR 18

Next NXT.L: UBS raises target price to 11,700p from 10,500p

Next NXT.L: UBS raises to buy from neutral

Next 15 Group Plc NFGN.L: Deutsche Bank cuts target price to 778p from 890p

Nokia NOKIA.HE: Citigroup raises target price to EUR 3.7 from EUR 3.3

Nokia NOKIA.HE: Deutsche Bank raises target price to EUR 5.25 from EUR 4.75

Nokia NOKIA.HE: Inderes raises to reduce from sell; PT to EUR 4.2 from EUR 3.3

Nordea NDAFI.HE: Inderes cuts to accumulate from buy; target price EUR 12.5

Nordea NDAFI.HE: Jefferies raises target price to EUR 13.30 from EUR 12.40

Ocado OCDO.L: HSBC raises target price to 270p from 265p

Pennon Group PNN.L: Deutsche Bank raises target price to 570p from 490p

Pennon Group PNN.L: Deutsche Bank raises to hold from sell

Planisware SA PLNW.PA: Citigroup raises target price to EUR 34 from EUR 30

Prosus PRX.AS: HSBC raises target price to EUR 49 from EUR 45

Raiffeisen Bank International AG RBIV.VI: Citigroup raises PT to EUR 27 from EUR 22

Rank Group Plc RNK.L: Deutsche Bank raises target price to 127p from 120p

Rheinmetall RHMG.DE: Deutsche Bank raises target price to EUR 780 from EUR 700

Sage Group SGE.L: Jefferies raises target price to 1,600p from 1,500p

Sainsbury'S SBRY.L: HSBC cuts target price to 285p from 325p

Sainsbury'S SBRY.L: HSBC cuts to hold from buy

Sanofi SASY.PA: Deutsche Bank raises target price to EUR 100 from EUR 85

Sanofi SASY.PA: Deutsche Bank raises to hold from sell

Sanofi SASY.PA: Leerink Partners raises target price to EUR 120 from EUR 113

Serica Energy Plc SQZ.L: Peel Hunt cuts target price to 210p from 250p

Shell Plc SHEL.L: Citigroup raises target price to 2650p from 2550p

Smiths Group SMIN.L: JP Morgan raises target price to 2220p from 2210p

Societe Generale SA SOGN.PA: Citigroup raises target price to EUR 40 from EUR 33

Spirent Communications Plc SPT.L: Deutsche Bank raises target price to 250p from 225p

St James's Place SJP.L: Deutsche Bank raises target price to 1150p from 1125p

St. James's Place SJP.L: Jefferies raises target price to 1,150p from 820p

STMicroelectronics NV STMPA.PA: BofA Global Research cuts PO to EUR 29 from EUR 30

STMicroelectronics NV STMPA.PA: Jefferies cuts target price to EUR 23 from EUR 25

STMicroelectronics NV STMPA.PA: TD Cowen cuts target price to EUR 22 from EUR 24.50

Surgical Science Sweden AB SUSW.ST: Berenberg cuts to hold from buy

Swatch Group AG UHR.S: JP Morgan cuts target price to CHF 125 from CHF 135

Swatch Group AG UHR.S: RBC raises target price to CHF 150 from CHF 140

Talenom Oyj TNOM.HE: Inderes cuts target price to EUR 4.6 from EUR 5.2; rating buy

Telenor ASA TEL.OL: Deutsche Bank raises target price to NOK 154 from NOK 147

Tullow Oil Plc TLW.L: Panmure Liberum cuts target price to 30p from 34p

Tullow Oil Plc TLW.L: Panmure Liberum cuts to hold from buy

Umicore SA UMI.BR: Kepler Cheuvreux cuts target price to EUR 10.5 from EUR 18

Umicore SA UMI.BR: Kepler Cheuvreux cuts to hold from buy

Wavestone SA WAVE.PA: Kepler Cheuvreux raises target price to EUR 60 from EUR 50

Wavestone SA WAVE.PA: Kepler Cheuvreux raises to buy from hold

Wizz Air WIZZ.L: Peel Hunt cuts target price to 1,450p from 1,600p