BUZZ-EU media & internet: Value over quality - JP Morgan

** JP Morgan says the European media & internet investment cycle is moving from the contraction to the recovery phase in which investors should favour value, low quality, high risk, small caps and rising momentum to maximize returns

** Broker believes structural concerns for Atresmedia are overstated, raises to "overweight" from "neutral"

** Ups Mediaset to "neutral" from "underweight" as the underlying advertising market has been robust and the market now has full visibility on the loss of sports advertising

** Quality and growth may struggle to outperform for Informa after outperformance over the past 18 months; broker cuts to "neutral" from "overweight"

** JP Morgan says TF1 has a strong balance sheet and uses its financial flexibility to invest in online/digital, diversifying the group and improving its growth profile; raises to "overweight" from "neutral"

** Broker believes operational and strategic performance for Wolters Kluwer has been "more than reflected in the share price"; cuts to "underweight" from "neutral"