Banco BPM is trading 4.02% down at €13.24 after Jefferies lowered its price target. - Jefferies cut its target to €15.30 from €16.60 and maintained a Hold rating. - It expects third-quarter net profit to be about 2% below consensus and forecasts a lower CET1 ratio. - European banking stocks were broadly weaker, adding sector pressure; reports link the decline to the target cut and wider banking selloff.