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BUZZ-Ocado: Exane BNP Paribas upgrades to "neutral"

Reuters - UK Focus

** Online grocer's shares up 3.3 pct, top FTSE midcap gainers after Exane BNP Paribas upgrades rating to "neutral" from "underperform", raises PT to 325p from 260p

** Analysts cite a pull-back in the share price for upgrade, and add that "shares are broadly fair, not compelling value"

** Shares (Berlin: DI6.BE - news) hit 8-mth lows last Monday, but since gained about 4.4 pct (to Friday's close)

** Exane expects Ocado to sign deals with international retailers, but sees a measured roll-out

** Ocado's shares third-largest gainers on pan-European Stoxx 600 Index ; only positive stock on the Stoxx 600 Retail Index (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)