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BUZZ-Smith & Nephew: top FTSE 100 losers after Barclays downgrade

Reuters - UK Focus

** Shares (Berlin: DI6.BE - news) in Smith & Nephew (Frankfurt: 502816 - news) , Europe's largest maker of artificial hips and knees, down 1.3 pct and bottom of the FTSE 100

** Barclays (LSE: BARC.L - news) cuts rating on stock to "equal-weight" from "overweight", raises PT to 1240p from 1230p

** Analysts say results continue to disappoint, add management transition could delay key initiatives

** Smith & Nephew reported H1 trading profit down 3 pct last month, dragged by China

** Analysts say while disappointments in co's Emerging Markets and Wound Care units are set to dissipate, there remain risks from a "resurgent" Zimmer Biomet (NYSE: ZBH - news)

** Of 19 analysts covering stock, 10 have "buy" or higher, 9 have "hold"; median PT of 1,267p implies 1 pct downside (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)