LONDON (AFX) - UK and European brokers' recommendations issued today, as collated by AFX News from a range of market sources.

WESTLB
Upgrades to Outperform from Neutral SABMiller -- Downgrade Neutral from outperform Logitech, target 42.5 eur -- Upgrade Outperform from neutral adidas-salomon, new target 175 eur

BRIDGEWELL
Downgrades to Neutral from Overweight Centaur Holdings

NUMIS
Upgrades to Add from Hold Babcock, 190 pence target -- Buy Consolidated Minerals, raises target to 126 pence from 120

DRESDNER KLEINWORT
Downgrades to Hold from Add Enagas -- Upgrade Hold from reduce Virgin Mobile

UBS
Upgrades to Buy from Neutral Invensys -- Buy HMV Group, ups target to 295 pence -- Buy Georg Fischer, ups target to 480 sfr -- Downgrade Neutral from buy TNT Group -- Upgrade Buy from neutral EMS Chemie

ALTIUM SECURITIES
Reiterate Add Wembley, ups target to 896 pence

CA CHEUVREUX
Upgrade Outperform from underperform Fimalac, ups target to 50 eur -- Upgrade Outperform from underperform Schibsted, ups target to 200 nkr from 145 - Reiterate Outperform LISI, ups target to 74 eur from 70 -- Outperform Soitec, ups target to 15 eur

BNP PARIBAS
Reiterate Neutral Atlas Copco, ups target to 125 skr from 114, raises estimates -- Neutral Sanef, ups target to 43 eur from 42 -- Neutral Soitec, ups target to 8 eur from 7 -- Neutral LISI, ups target to 61 eur

MERRILL LYNCH
Reiterate Buy Atlas Copco, ups target to 145 skr

DEUTSCHE BANK
Reiterate Hold Karstadt Quelle, raises target to 11.4 eur from 9 -- Buy Metso, raises target to 21 eur from 17.8 -- UK Banks: Downgrade Hold from Buy HBOS, target 910 pence; Upgrade to Hold from Sell Bradford & Bingley, ups target to 320 pence from 300, preview; Reiterate Hold Barclays, ups price target to 600 pence from 560, preview -- Hold Atlas Copco, ups target to 125 skr from 100

PANMURE GORDON
Downgrade Hold from buy ARM Holdings, target 120 pence -- Reiterate Buy IG Group, ups target to 130 pence from 120

CITIGROUP SMITH BARNEY
Upgrade Buy from hold Novartis, ups target to 54.25 usd from 50.08 -- Downgrade Hold from buy Standard Bank, target 75 rand -- Reiterate Hold Atlas Copco, ups target to 130 skr from 108.33 -- Buy Wolseley, ups target to 1,300 pence from 1,240 - Sell Gazprom, ups target to 33.60 usd from 32.30 -- Upgrade Buy from hold Kensington Group, ups target to 665 pence from 559 -- Reiterate Buy Banca Intesa, ups target to 4.60 eur from 4.3 -- Buy Cemex, ups target to 52 usd, preview

JP MORGAN
Downgrade Neutral from overweight PPR, cuts fair value to 85 eur from 88 -- Downgrade Neutral from overweight Atlas Copco, ups fair value to 139 skr from 126

LEHMAN
Nordic Banks: Initiate sector with Negative rating; Initiate Overweight Nordea, target 8.6 eur; Initiate Equal-weight SEB, target 145 skr; Equal-weight DnB Nor, target 70 nkr; Equal-weight Swedbank, target 186 skr; Underweight Danske Bank, target 182 dkr; Underweight Handelsbanken, target 157 skr -- Initiate Equal-weight Toro, target 13 eur French Banks: Retain Negative sector view; prefer Societe Generale, ups target to 97 eur; BNP Paribas, ups target to 63 eur -- Equal-weight Ahold, ups target to 7.0 eur -- Overweight Antena3, target 18.75 - Overweight Atlas Copco, ups target to 138 skr, raises estimates -- Equal-weight Philips, ups target to 23 eur

GOLDMAN SACHS
Reiterate In-line Credit Suisse, ups estimates -- Outperform UBS, ups estimates -- Upgrade In-line from underperform Deutsche Bank, up estimates -- Upgrade Outperform from in-line Stora Enso; Downgrade In-line from outperform Metso -- Upgrade Outperform from in-line Saint Gobain, ups estimates -- Upgrade Outperform from In-Line Hilton Group, adjusts estimates -- Reiterate In-Line Atlas Copco, ups estimates, prefers SKF -- Outperform Punch Taverns, ups estimates -- Outperform Philips, cuts forecasts, prefers STMicroelectronics or ARM -- Outperform Stanley Leisure, adjusts estimates

ING
Downgrade Hold from buy De'Longhi, cuts target to 2.9 eur from 3.3, reduces estimates

SG SECURITIES
Oil Services: Retain Neutral sector view; Upgrade Buy from hold Geophysique, ups fair value to 89 eur from 70; Saipem, ups fair value to 12.7 eur from 10.2; Technip, ups fair value to 45 eur from 40; SBM, ups fair value to 70 eur from 59 -- Reiterate Buy Philips, ups fair value to 25.5 eur from 24.0, trims estimates

CSFB
Downgrade Neutral from Outperform Pyaterochka, target 15.8 usd -- Outperform Wolseley, ups price target to 1,400 pence from 1,300

ABN AMRO
Upgrade hold from reduce Arriva, new target 546 pence -- Reiterate Buy Gambro, ups fair value to 130 skr, preview -- Downgrades to Hold from Add ABB

CAZENOVE
Outperform Ultra Electronics, ups EPS estimates

For all you US watchers out there, intc just tanked 75-80pts in after hours extended trading following it's update. Dow gobbling up it's gains and now at 10,615.