BUZZ-Top of the Street: Rotork, Severn Trent, Experian, Osram, Tullow Oil

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

** Liberum 5-star broker ups Rotork (Frankfurt: RO41.F - news) to "hold", saying that although the shares have underperformed the sector by 13% YTD, the rise in oil price and co's Q3 orders signal improving conditions

** Exane BNP Paribas says strong performance of Severn Trent (BSE: 500251.BO - news) 's outcome delivery incentives could smooth hit from next price control starting in 2020/21; raises to "neutral"

** "De-risked near-term outlook could drive re-rating", Exane BNP Paribas titles its note on Experian (Other OTC: EXPGF - news) and upgrades to "neutal", saying that by Q4 the US Consumer business could have returned to growth

** Baader Helvea 5-star ranked analyst upgrades Osram to "buy"; sees loss-making Lighting Solutions & Systems segment having neutral earnings impact in FY19/20

INITIATIONS AND REINSTATEMENTS

** Exane BNP Paribas says Tullow Oil (LSE: TLW.L - news) offers the highest oil price leverage among European E&P companies as well as an improving operational and financial outlook; initiates coverage with "outperform" rating

(*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)