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BUZZ-Monitise Plc: retreats further from 1-month high

Reuters - UK Focus

** Monitise Plc (LSE: MONI.L - news) down for second straight day and falls as much as 10.2 pct after UBS TP cut spurs more weakness after stock hit a 1-month high earlier this week

** UBS (LSE: 0QNR.L - news) cuts TP to 65 pence from 75 pence, cuts EPS forecasts significantly near-term but longer-term assumptions unchanged

** Broker says co will reach its target of 200 mln users in 2020 rather than 2018

** Says Monitise can achieve 2016 EBITDA profitability on a significantly lower cost base

** UBS sticking with "buy" rating, cites company's strong customer base & potential benefits from mobile banking

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** Co said on Tuesday that it was in constructive discussions after putting itself up for sale last month

** Jefferies named Fiserv Inc (NasdaqGS: FISV - news) , FIS Global, Temenos Group (LSE: 0QOA.L - news) , Tata Consultancy Services Ltd, IBM (NYSE: IBM - news) , MasterCard and Visa Inc (Xetra: A0NC7B - news) as potential suitors (Reuters Messaging: noor.hussain.thomsonreuters.com@reuters.net)