BUZZ-Burberry: falls back as HSBC downgrades

** Burberry retreats from deal chatter induced 5-mth highs reached Tuesday as HSBC cuts rating to "hold" v "buy"

** Weaker GBP, limited cost-cutting and likely cash return do not justify recent share price rebound, HSBC says

** Adds top-line pick-up should be gradual and its impact on bottom line limited by performance-related pay structure

** Broker raises TP to 1,500p v 1,380p on 2-10% est increases

** BRBY -2.3%, second-top FTSE 100 faller

** Stock rose in the previous session on reports it could become a takeover target

(RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)