BUZZ-Top of the Street: Eutelsat, Boliden, UK asset managers

A round-up of notable broker activity this morning from Europe's top-ranked* analysts:

** Berenberg raises Eutelsat to "buy" from "hold", believes recent tax law changes in France could prove to be a material positive catalyst

** Standard Life Aberdeen: Barclays cuts to "equal weight" from "overweight", says co continues to face challenges as it seeks to deliver on the objectives of the merger of 2017

** UBS downgrades Boliden to "neutral" from "buy" as it believes fundamental outlook for zinc is deteriorating

INITIATIONS AND REINSTATEMENTS

** Barclays starts Jupiter Fund Management with "underweight" rating as it sees the weakest earnings profile among the UK asset managers

** Intermediate Capital Group is Barclays' preferred pick, says co is well positioned to benefit from the structural demand from investors for private capital asset management, starts with "overweight"

** Barclays' expects that Man Group is set to report sector-leading earnings growth, initiates with "overweight"

** While challenges exist, Barclays views Schroders as the best positioned of the conventional managers with enough strategic and capital flexibility to meet structural challenges, starts with "overweight"

** Credit Suisse initiates PSP Swiss Property with "neutral", says that despite having shifted to an improving, more active property management, broker sees a lack of further positive catalysts

(*Analyst rankings from Thomson Reuters StarMine. Scale is from 1-star to 5-star with 5 being best. Analysts ranked on earnings accuracy as well as relative performance of recommendations over trailing 12-month & 24-month periods.)