BUZZ-View from the buyside: John Menzies full of value-Premier AM

** John Menzies (LSE: MNZS.L - news) (JM (Stockholm: JM.ST - news) ), which splits its efforts between the disparate areas of news distribution & aviation services, is a small cap "full of value", says Premier AM's head of UK equities Chris White

** Dwindling demand hurt growth at news distribution, but White likes fact business generates lot of cash to invest in aviation services - where problems caused profit warning Nov (stock c.14 pct below pre-warning level)

** JM could mitigate news distribution's decline through cost savings & deal like competitor Connect has with Amazon for 'click & collect' delivery, he says

** White says essentially what co has to do in aviation arm is get more embedded with existing customers (says JM Aviation was spread too thinly over many countries)

** He flags co is getting more involved in US where outsourcing process has gathered momentum & has opportunity to get a good market position with airlines

** Activist shareholder Lakestreet Capital Partners (3 pct stake) called for change, believes co "dramatically undervalued" & queries logic of operating in 2 unrelated sectors; has support of top shareholder Kabouter (c.9 pct stake)

** White welcomes fact they are shaking up JM (though does not necessarily disagree with shape of business)

** JM up 1.9 pct, adding to Friday's 3 pct gain after in-line update (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)