BUZZ-EU broadcasters: HSBC selectively less cautious

** HSBC says Q3 results for the broadcasters to meet or exceed admittedly lowered market expectations

** HSBC raises ITV (Frankfurt: A0BLQP - news) and M6 to "buy" from "hold"

** Broker says it is largely constructive on Q4 advertising in almost every market

** Says UK becoming a bit more constructive, brokerage increases increases TV's Q4 net ad revenue estimate from -2.6 pct to -0.5 pct

** ProSiebenSat 1 remains broker's preferred pick because of short-term momentum as the name with the most negative investor sentiment

** France remains a relative bright spot - HSBC

** Raises PT of TF1 (Paris: FR0000054900 - news) to 11.5 euros from 10 euros, ITV to 210p from 200p, M6 to 23.5 euros from 19 euros; while cuts PT of RTL to 71 euros from 74 euros, Mediaset Espana (Amsterdam: MW8.AS - news) to 11 euros from 11.5 euros

** ITV up 1.5 pct, M6 up 3.1 pct