BUZZ-JPMorgan upgrade puts a bounce in Osram shares' recovery

** Shares in German lighting company Osram rise 2.8 percent to the top of Frankfurt's midcap index, after JP Morgan (Other OTC: JPYYL - news) upgrades the stock to "neutral" from "underweight" following a big decline in the group's shares.

** Osram shares are the no.2 traded stock in the MDAX after TUI (Berlin: TUI1.BE - news) .

** Shares in Osram hit a near 9-month low last week & are down 14 percent year-to-date, underperforming a 1.5 percent gain in Frankfurt's MDAX.

** The Siemens spin-off trades at 12.2 times forward earnings - the cheapest vs a basket of StarMine peers. http://link.reuters.com/nar32w

** UBS (NYSEArca: FBGX - news) , meanwhile, trims its price target on the stock, keeps it a "buy."

(Reuters messaging rm://christoph.steitz.thomsonreuters.com@reuters.net)