BUZZ-Top of the Street: G4S, Tate & Lyle, Publicis, Pandora, DSM

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

** 5-star Deutsche Bank (IOB: 0H7D.IL - news) analyst Sylvia Barker expects G4S (Copenhagen: G4S.CO - news) 's growth to remain weak for 2-3 quarters but sees faster growth in 2018, upgrades to "buy"

** Exane BNP Paribas upgrades Tate & Lyle (LSE: TATE.L - news) to "neutral" following H1 results 18 pct ahead of the broker's expectations, driven both by its specialty food ingredients and bulk units

** Goldman Sachs (NYSE: GS-PB - news) removes Publicis (Paris: FR0000130577 - news) from its Conviction List due to tougher industry conditions although co's turnaround is on track, maintains "buy"

INITIATIONS AND REINSTATEMENTS

** Berenberg starts Pandora (LSE: 0NQC.L - news) with "buy", citing co's "substantial" competitive edge thanks to the "superior" vertical integration of its business model and its production capacity, the largest in the world

** Goldman Sachs reinstates DSM with "neutral", expects vitamin prices to normalize and co to face tougher comps in H1

(*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)