EUROPE-RESEARCH/ (NON-FTSEUROFIRST300)

Iberdrola Renovables UBS Raises to buy
(IBR.MC)
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------------ Le Carbone Lorraine Exane BNP Paribas
Downgrades to underperform from
(CBLP.PA) neutral
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------------ Marston's plc (MARS.L) Citigroup Cuts
price target to 115p from 175p;

rating hold
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------------ Metal-Tech (MTT.L) Panmure Cuts
price target to 10p from 20p;

rating hold
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------------ Micro Focus Panmure Raises
price target to 264p from
International (MCRO.L) 261p; rating hold
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------------ Mothercare plc (MTC.L) RBS Cuts
price target to 285p from 360p;

rating reduce
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------------ Orpea (ORP.PA) HSBC Cuts
price target to 23 euros from

35.5 euros; keeps
underweight rating
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------------ PKN Orlen PKNA.WA Unicredit Cuts
price target to Pln 36 from Pln

43.4; rating buy
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------------ Premier Oil plc RBS Cuts
price target to 1000p from
(PMO.L) 1200p; rating add
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------------ PZ Cussons (PZC.L) Numis Raises
target price to 140p from 125p
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------------ Rieter Holding Vontobel Cuts
price target to Sfr 130 from
(RIEN.S) Sfr 240
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------------ Salamander Energy RBS Cuts
price target to 195p from 245p;
plc (SMDR.L) rating add
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------------ Schmack Biogas AG Unicredit Raises
to hold from sell
(SB1Gn.DE)
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------------ Schroders plc (SDR.L) Jefferies Starts
with underperform rating;

price target of 700p
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------------ Scott Wilson (SWG.L) Panmure Cuts
price target to 130p from 136p;

rating buy
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------------ Sibir Energy plc JP Morgan Cuts
price target to 160p from 345p;
(SBE.L) rating neutral
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------------ Soco International RBS Cuts
price target to 1850p from
Plc (SIA.L) 1950p; rating buy
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------------ Stagecoach Group Deutsche Bank Cuts
price target to 170p from 349p
(SGC.L)
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------------ Sydbank (SYDB.CO) S&P Equity Cuts
price target to Dkk 60 from Dkk

120; rating sell
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------------ Tullow Oil plc tlw.l RBS Cuts
price target to 950p from 1030p;

rating buy
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------------ Venture Production RBS Cuts
price target to 495p from 750p;
plc (VPC.L) rating add
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------------ Whitbread plc (WTB.L) Citigroup Cuts
price target to 1250p from

1300p; rating buy

Deutsche Bank Cuts price target to
1,675p from

1,780p
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------------ ((Compiled by Mary Meyase; Bangalore Equities
Newsdesk +91 80 4135 5800; within U.S. +1 646 223 8780))