BUZZ-Henkel: bottom of DAX after results

** Consumer goods co Henkel falls back after a strong rally into Q4 numbers which analysts say are unlikely to result in upgrades to estimates

** Stock, down 3.9 pct, top faller on Germany's DAX & most actively traded stock on index, with 70 pct of 90-day avg daily volume having gone through

** Co, prominent in Russia, strikes cautious note on 2015 outlook; expects stagnation in Eastern Europe & further pressure on Russian economy & currency over coming months

** Posts in-line 3.1 pct increase in Q4 adjusted operating profit

** Expects 2015 organic sales growth of 3 to 5 pct

** Analysts at Jefferies say 2015 outlook broadly in line with consensus, suggesting little is likely to change, while valuation looks rich

** Henkel, like fellow consumer stocks Diageo (LSE: DGE.L - news) , Unilever & AB Foods, trades on more than 20 times next year's expected earnings

** Lofty sector valuations explained by yield-starved investors chasing reliable divi payers (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)