BUZZ-Hays: HSBC upgrades to "buy" on valuation

** British recruitment firm Hays (Other OTC: HAYPY - news) 's shares up 5.5 pct, poised for its best day since Oct (HKSE: 3366-OL.HK - news) . 2014, after HSBC ups rating on stock to "buy" from "neutral", PT to 155p from 140p

** HSBC analysts raise PT based on increased CY16 EPS estimate of 9.2p, earlier used FY16 estimate of 8.4p; add current PT implies 34 pct upside to share price

** Analysts say UK staffers' multiples are de-rating as the market grows concerned over a labour market slowdown, but add that they do not believe a recession is imminent

** HSBC "buy" rated on peers Michael Page (up 1 pct), SThree (up 3 pct); Stoxx 600 Industrial Goods and Services Index up 2.4 pct

** Hays top gainer on the FTSE mid-250 index (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)