BUZZ-Top of the Street: Moneysupermarket.com, BAE Systems, Tenaris

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

** Canaccord Genuity (Frankfurt: A0B6V4 - news) says Moneysupermarket.com to take a hit of 8 pct in EPS from a step-up in costs to improve site optimisation. Cuts to 'hold' from 'buy' given more moderate growth/cash flow aspirations

** 5-star analyst JPMorgan (LSE: JPIU.L - news) says BAE Systems (LSE: BA.L - news) ' lacklustre guidance for 2018 EBITA and FCF suggests it will continue to underperform its peers in US defence and in European civil aero, for the foreseeable future at least. Cuts to 'underperform' from 'neutral'

** Credit Suisse (IOB: 0QP5.IL - news) says Tenaris (Amsterdam: TS6.AS - news) should benefit from a stronger oil price supporting a broader global recovery in OCTG shipments and pricing, raises to 'outperform'

** Barclays (LSE: BARC.L - news) raises Neste (LSE: 0O46.L - news) to 'overweight', expects that demand for renewable fuels will continue to grow

** RBC Capital Markets cuts H&M to 'underperform' v 'sector perform' as it expects more gross margin pressure than the market anticipates this year. It adds that the market has underestimated likely cannibalisation of store sales and that H&M is at risk of over-distributing and not investing enough to improve the core H&M offer

** 5-star BofA Merrill Lynch analyst downgrades Iberdrola (Amsterdam: ID6.AS - news) to 'neutral', says profit outlook has become less certain

(*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.) (RM (LSE: RM.L - news) :JoaoManuel.VicenteMauricio.thomsonreuters.com@reuters.net)