BUZZ-Diageo: broker boost
** Diageo (LSE: DGE.L - news) lifted as Morgan Stanley (Xetra: 885836 - news) initiates at "overweight" - calling distiller an 'affordable' haven within consumer staples
** Diageo, up 2.2 pct, top performer on Stoxx 600 Food & Beverages index ; stock broadly flat over past yr, vs >30 pct jump from F&B index
** MS flags Diageo's large US exposure (at 43 pct, highest across EU consumer staples) & strong opportunity in India, while destocking & FX volatility issues easing
** Co trades on 12-mth fwd PE of 20.1x, vs fellow staples Pernod Ricard (Paris: FR0000120693 - news) on 21.4x, Danone (Paris: FR0000120644 - news) on 21.5x, Reckitt Benckiser (Xetra: A0M1W6 - news) on 23.8x & Beiersdorf on 28.8x, Thomson Reuters data shows (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)