BUZZ-European media and internet stocks: Move on JPM sector review

** European media and internet stocks advance after J.P. Morgan Cazenove analysts review the sector and name their top picks

** The sector looks set to outperform for a 6th year in a row (up +9 pct vs MSCI Europe YTD), JPM analysts say

** JPM analysts believe growth can continue in 2016 as some Euro ad markets improve, balance sheets are underleveraged, increased proportion of high growth online, and FCF and EPS growth is strong

** STOXX Europe 600 Media EUR Price Index up about 1 pct

** JPM top picks include ITV (LSE: ITV.L - news) , Vivendi (Swiss: VIV.SW - news) , Just Eat, Pearson (Xetra: 858266 - news) , WPP (LSE: WPP.L - news) and Publicis (Paris: FR0000130577 - news) (all overweight)

** These stocks were up 1-3.5 pct in early trading

** JPM analysts say the top picks have strong balance sheet capacity, high growth or turning around growth, and attractive valuation vs peers

** Brokerage downgrades Rightmove RMV to "neutral" on valuation grounds; cuts Daily Mail and General Trust to "neutral", growing more cautious on its end markets and applying lower multiples to its B2B assets

** Upgrades UBM to "overweight" on valuation grounds with China concerns more than priced in (Reuters Messaging: noor.hussain.thomsonreuters.com@reuters.net)