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BUZZ-Barclays: down on PT cuts

Reuters - UK Focus

** Barclays (LSE: BARC.L - news) down c1 pct after Bernstein and Jefferies cut PTs (Other OTC: PTSH - news) , citing tough banking environment

** "This year's going to be a mess for banks," Bernstein says as it cuts PT to 180p from 255p (shares trading at 172p); rating "market-perform"

** Jefferies reduces PT to 287p from 357p; rating "buy"

** Brokerage trims 2015-17E PBT estimates for Barclays (Swiss: BARC.SW - news) Africa by 19 pct on the back of lower growth and higher credit losses

** Jefferies believes it's unlikely that BARC will be able to sustain ordinary dividend pay-outs in 2016 & 2017

** Stock top loser on FTSE 350 Banks Index, which is almost flat (RM (LSE: RM.L - news) : aastha.agnihotri.thomsonreuters.com@reuters.net)