BUZZ-Top of the Street: Hugo Boss, Neste, EU Exploration & Production

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

** Top-ranked analyst Morgan Stanley upgrades Hugo Boss to "equal-weight" from "underweight," believing medium-term risks are now fully reflected in the valuation

** MS believes Neste can accelerate its growth plans in its core renewable products division; the broker upgrades Neste to "buy" from "neutral"

** European Exploration & Production: Morgan Stanley downgrades the sector to "in-line" from "attractive," citing limited upside to near and long-term oil prices and growing evidence of a sharper-than-expected slowdown in oil demand

MS cuts Tullow Oil to "equal-weight" from "overweight," believing delays in Ghana and Uganda will likely act as an overhang to the shares (*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.)