BUZZ-Afren: JP Morgan downgrade compounds woes

** The oil explorer's shares down as much as 7.2 pct after JP Morgan Cazenove slashed price target on stock by more than half

** The brokerage also cut price targets on nine other European oil explorers and producers to reflect bearish oil price forecasts

** Sees potential for deeper cuts on oil and gas exploration as focus shifts to maintaining healthy balance sheets and managing financial risk

** "New (KOSDAQ: 160550.KQ - news) fields for Afren (LSE: AFR.L - news) , EnQuest (LSE: ENQ.L - news) , Lundin Petroleum (Other OTC: LNDNF - news) , and capacity expansion for SOCO International (LSE: SIA.L - news) , Genel Energy (Other OTC: GEGYF - news) and DNO ASA (Other OTC: DTNOF - news) all need to hit their respective marks as we traverse the year."

** JP Morgan cut its 2015 forecast for brent crude prices to $82 per barrel in November

** Afren already suffering after it said there were no reserves at Iraqi Kurdistan oilfield. Stock fell as much as 45 pct last week

** Afren second worst performer on FTSE Mid 250 index on Monday morning (abhiram.nandakumar.thomsonreuters.com@reuters.net)