Following a sector de-rating, Swiss investment bank UBS has cut its target price for FTSE 100 insurance group Legal & General from 114p to 95p."The sector has de-rated by some 9% in the market turmoil since June. Our 2012E shareholders' equity forecast reduced by 5% at interims. We are therefore reducing our price target," said analyst James Pearce.A neutral rating is maintained.Credit Suisse has cut its target price for power provider Drax from 400p to 350p, highlighting uncertainties surrounding regulation and the economy.While Credit Suisse has upped its 2012 earnings per share forecasts by 29%, it believes that dark spreads have peaked: "We do not see much further upside potential for UK gas prices, but we are bullish on coal, and the CO2 floor - introduced by the government from 2013 - will progressively raise costs."An underperform rating is maintained.Stock brokers Evolution Securities has lowered its target price on mining group Polo Resources after the firm announced it will trade ex-entitlement to the 2p special dividend which the group will pay on 5 October as a result of the sale of Caledon Resources. Despite lowering its target Evolution highlighted the strong case which it continues to see for investing in the firm. "We reiterate our buy recommendation, but lower our target price from 8p to 6p per share. Polo shareholders have had a lot to smile about during the last 12 months. Following the recent sale of Caledon Resources, Polo will soon pay a 2p per share dividend, equating to $47m. It is for this reason that we have lowered our target price." BC & NR