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BUZZ-Top of the Street: Sunrise, Mediaset, Tate & Lyle

Reuters - UK Focus

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

** Sunrise Communications (IOB: 0R5G.IL - news) : Deutsche Bank (IOB: 0H7D.IL - news) flags that the Swiss telco now trades in line with peers; cuts to "hold" after strong rally

INITIATIONS AND REINSTATEMENTS

** Credit Suisse (IOB: 0QP5.IL - news) starts with "neutral" on Mediaset (Amsterdam: MA8.AS - news) as the long-term upside potential in Spanish advertising is offset by a slower recovery in Italy

** Safran (LSE: 0IU8.L - news) : Deutsche Bank re-initiates with "hold" on Zodiac outlook (incl. risk further profit warnings), potential (after the very strong Q1 growth) for co to increase FY 2017 aftermarket growth guidance, and progress and execution on LEAP engine ramp up

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** Tate & Lyle (LSE: TATE.L - news) : Kepler Cheuvreux questions tenability of bulk ingredients' fiscal 2017 performance in short term, due to risk of potential NAFTA renegotiations, and in the medium term, due to falling demand for corn sweeteners; initiates with "reduce" on Tate & Lyle

(*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)