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

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

** Marks & Spencer (Other OTC: MAKSF - news) : Goldman Sachs (NYSE: GS-PB - news) keeps sell rating, adds to conviction sell list, sees margin under pressure from growing competition in UK food retail.

** Royal Mail (Other OTC: ROYMF - news) : Deutsche initiates coverage on stock with hold.

** Swiss Re (Other OTC: SSREF - news) : BarCap downgrades to equal-weight, rivals Munich Re & Hanover Re potentially greater levels of surplus capital.

** FirstGroup (Dusseldorf: FGR.DU - news) : Goldman Sachs cuts to neutral, cuts EBIT estimates on margin pressure at First Student unit.

** Aberdeen Asset Management (Other OTC: ABDNF - news) : UBS (Xetra: UB0BL6 - news) , 5-star analyst, trims estimates following SWIP completion, keeps buy, says outlook remains tied to EM sentiment.

** ING : SocGen (Paris: FR0000130809 - news) , 5-star analyst, ups estimates by 5-6% & raises price target, improved credit quality outlook.

** Vodafone : Nomura, 4-star analyst, cuts to hold, enterprise unit remains weak. [Stock has seen 2014 EPS come off nearly 15% over past month.]

* Analyst rankings from Thomson Reuters StarMine. Scale is from 1-star to 5-star with 5 being best. Analysts ranked on earnings accuracy as well as relative performance of recommendations over trailing 12-month & 24-month periods.

(Stocks Buzz is a pilot project. Please send any feedback or suggestions to vikram.subhedar@thomsonreuters.com) (RM (LSE: RM.L - news) : vikram.subhedar.thomsonreuters.com@reuters.net)