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BUZZ-Ophir: Doubts about FLNG prompts CS rating cut

Reuters - UK Focus

** Oil and gas producer Ophir down 2.4 pct, top loser on FTSE 350 Oil & Gas Index, after Credit Suisse cuts rating on stock to "underperform" from "neutral", PT to 125p from 195p

** CS analysts skeptical of co's stake in its Fortuna floating LNG project; say that FLNG is an unproven concept and that the timeline for the project is ambitious

** Rival Cairn Energy shares down 2 pct as CS initiates coverage with a rating of "underperform" and PT of 185p

** Cairn shares second-largest losers on FTSE 350 Oil & Gas Index; both Cairn and Ophir shares among top FTSE midcap losers (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)