BUZZ-Man Group: rises as RBC upgrades to "outperform"

** Hedge fund company Man Group (LSE: EMG.L - news) up 2 pct, among top FTSE Midcap gainers after RBC (Other OTC: RBCI - news) raises rating on co to "outperform" from "sector perform", PT to 185p from 195p

** Analysts say call is high risk and bucks consensus, adding that "contrarian investors at the current level will be rewarded over the long-term"

** Shares (Frankfurt: DI6.F - news) in co have fallen 30 pct from April's multi-year high, underperforming a 12 pct fall in its flagship fund AHL in the same period, RBC says

** Analysts note Man's attractive discount to its peers, which they say more than accounts for the risk of underperformance at AHL

** Co trades at a 25.6 pct 12-month forward P/E ratio discount to its peers, and a nearly 35 percent 12-month forward EV/EBITDA ratio discount, according to Thomson Reuters Eikon Data

** Peer Aberdeen Asset Management slumped 6 pct on Thursday, bottom of FTSE 100, after it said investors withdrew 9.9 bln stg from its funds in the quarter through June

** Man Group's shares at the top of Stoxx 600 Financial Services Index, Aberdeen top faller (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)