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BUZZ-Lonmin: Brokerages cut price targets

Reuters - UK Focus

** Platinum miner's shares down as much as 3.6 pct after Citi, Credit Suisse (NYSE: CS - news) , JP Morgan, and Deutsche Bank (Xetra: 514000 - news) cut price targets

** Brokerages cite company's announcement that it would cut production of about 100,000 ounces annually and layoff up to 6,000 workers for PT cut; add that rights issue remains a possibility

** Citi analysts cut PT to 78p from 113p, keep "neutral/high risk" rating, after cutting their net present value to 78 cents

** JP Morgan analysts cut PT to 100p from 190p, keep "neutral" rating

** Deutsche Bank analysts cut PT to 160p from 190p, keep "neutral" rating

** Credit Suisse analysts cut PT to 160p from 250p, keep "outperform" rating (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)