Council of Elrond

Targeting: Choosing a specific entity through which a card or effect will be played out. An entity chosen as such is the "target" of the action. Some possible targets are: characters, corruption checks, strike dice rolls, items, sites, and companies. A card that states it is playable on or with a certain entity targets an entity. Cards which affect an entire class of other cards do not target (e.g., Wake of War).

Cup of Farewell wrote:Playable on a company at a Haven [h] during the organization phase. Once during each of your turns, you can tap a character in this company, if the company is at a Haven, to take a minor item from your sideboard into your hand (show opponent). Cannot be duplicated on a given company.

Does this card target the minor item? Or is it the character tapping in the company that targets the minor item?

Armory wrote:Only you and your companies can use Armory. You may place any minor items from your hand under Armory during your organization phase. A character at a Haven can store a minor item under Armory instead of to your marshalling point pile. When you otherwise would be allowed to play a minor item from your hand at a Border-hold, Free-hold, or Haven, you may play an item from under Armory instead. If you have at least three minor items under Armory, gain 1 marshalling point.

Since this one doesn't actually perform an action on the minor items, does it target them?

Cup of Farewell:
tapped character is target of action "take a minor item from your sideboard into your hand (show opponent).", because this is specified character (no other than this tapped at declaration must be in "tapped state" at resolution).
Minor item is not specified at declaration of this action.

Armory:

Bandobras Took wrote:Since this one doesn't actually perform an action on the minor items, does it target them?

No minor item is condition for playing if Armory, so no.
Other question: Armory is affecting minor items, i.e. minion minor item may be placed under Armory?

That's kind of what I was thinking -- I don't think either of those cards actually targets the items, and while they both affect the play of minor items, they don't affect the minor items themselves.

And how about placing/playing hero rings under/from under Whispers of Rings?