BUZZ-Pearson: rallies after Exane BNP Paribas double upgrade

** Pearson (Xetra: 858266 - news) rise 1.6 pct, among top performers on FTSE 100 in heavy volume

** Exane BNP Paribas raises stock to "outperform" from "underperform", saying change in strategy and potential positive newsflow should help shares recover

** In August co announced plans to cut 3,000 jobs and slash its dividend in its latest attempt to revive its business, while it is selling further parts of its business following its sale of a 22 pct stake in book publisher Penguin Random House to majority owner Bertelsmann

** Exane says US college publishing market returned to stability in the summer -- raises US Higher Education Publishing organic revenue growth forecast to 0 pct from -7 pct for 2017

** Brokerage adds that co is making good progress with strategy, with cost-cutting, simplification and technology upgrade projects well on track

** Exane says current share price (stock is close to 10-year lows) offers a good entry point -- ups PT by 16.7 pct to 700p

** Deutsche Bank (IOB: 0H7D.IL - news) more negative, cutting stock to "sell" from "hold" and cutting PT by 21.7 pct to 470p (20 pct downside), pointing to a weak 2017 selling season and a dividend yield (2.6 pct) which is below peers

** Pearson easily the most actively traded UK bluechip on Wednesday