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BUZZ-Amec Foster Wheeler: falls for second day as brokers cut ratings

Reuters - UK Focus

** Oil and gas services co Amec Foster Wheeler (Other OTC: AMCBF - news) 's shares down 6.3 pct, second-largest loser on the Stoxx 600 , as brokers cut ratings

** Cuts follow news on Thursday that co would halve its dividend, and saw margin pressures

** UBS (NYSEArca: FBGX - news) cuts to "neutral" from "buy", PT to 600p v 875p; Citigroup (NYSE: C - news) cuts to "neutral" from "buy"

** JP Morgan cuts PT to 739p from 902p, keeps "overweight" rating, Exane BNP Paribas cuts PT by 29 pct to 620p, keeps "neutral" rating

** UBS cites halving of divi for rating cut, adds that debt came in higher than expected

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** Friday's weakness follows sharpest one-day drop in share price on record on Thursday to 6-yr lows

** Co also top loser on FTSE midcap index (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)