BUZZ-Top of the Street: Georg Fischer, Tenaris, Endesa, Boliden, G4S, European Property

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

** 5-star analyst Credit Suisse (IOB: 0QP5.IL - news) cuts Georg Fischer (IOB: 0QP4.IL - news) to "neutral" from "outperform" on valuation grounds

** Credit Suisse upgrades Tenaris (Amsterdam: TS6.AS - news) to "neutral" citing stronger earnings potential in late FY2018 and FY2019 due to time lag between demand in North America and its impact on profit and loss

** 4-star analyst Goldman Sachs (NYSE: GS-PB - news) raises Spanish energy company Endesa (LSE: 0N9G.L - news) to "neutral" & upgrades 2019-23 EPS by 5% on average reflecting ongoing strength in power prices

** Deutsche Bank (IOB: 0H7D.IL - news) cuts Swedish mining company Boliden (Amsterdam: 1336949.AS - news) to "sell", seeing negative earnings pressures ahead from peaking zinc prices in 2018, capacity expansions offset by grade decline and smelter margins under downward pressure

** Citi raises security company G4S (Copenhagen: G4S.CO - news) to "buy", saying stock offers improving organic growth trajectory, cost savings & Cash360 at cheap valuation

** European Property Outlook: JPMorgan (LSE: JPIU.L - news) says it favours Continental (IOB: 0LQ1.IL - news) property stocks in 2018 based on more attractive valuations, better economic momentum and more benign rates outlook. In the UK uncertain economic outlook leads broker to remain cautious going into 2018 & downgrades Unite, LondonMetric & Shaftesbury to "neutral"

(*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.)