BUZZ-Top of the Street: round-up of highly rated analyst action in Europe

Ratings & estimate changes by Europe's top-ranked* analysts:

** Active Biotech : Goldman Sachs initiates with abuy rating, TASQ potential not factored into share price.

** Adidas AG : drops off Credit Suisse Europefocus list, on FX and unhedged exposure to Russia, 4 of 5analysts since March 5 have EPS estimates for the Mar-14quarter, average revision -25.8%.

** Lloyds : Numis, 5-star analyst, upgrades to buy,equity cash-flow & steady dividend hikes in 2015, 2016.

** Bunzl : HSBC, 4-star analyst, hikes target priceto 1700p, minimal EM exposure & potential for Europe surprises,valuation the key concern, sticks with neutral rating.

** Saint Gobain : Jefferies, 5-star analyst,resumes coverage with a buy rating, target price at 54, onWestern Europe & US recovery.

** Amadeus : N+1 Equities, 5 star analyst, upgradesto buy on IHG contract.

** LVMH : Deutsche upgrades to buy, expects stockto play catch-up to sector.

** Thales : JPMorgan, 4-star analyst, reiteratesoverweight ahead of co's first capital markets day in 4 years.Small upgrade to 2015-2017 EPS estimates.

* Analyst rankings from Thomson Reuters StarMine. Scale isfrom 1-star to 5-star with 5 being best. Analysts ranked onearnings accuracy as well as relative performance ofrecommendations over trailing 12-month & 24-month periods.

(Stocks Buzz is a pilot project. Please send any feedback orsuggestions to vikram.subhedar@thomsonreuters.com) (RM: vikram.subhedar.thomsonreuters.com@reuters.net)