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BUZZ-Berendsen: falls on Morgan Stanley downgrade

Reuters - UK Focus

** Shares (Berlin: DI6.BE - news) in British workwear and hygiene company Berendsen down 3.6 pct, among the top losers on FTSE 350 Index

** Biggest intraday pct loss since March 21

** Morgan Stanley (Xetra: 885836 - news) cuts to "underweight" from "equal-weight"

** "Underinvestment in PPE (Personal Protective Equipment) is the headline challenge, rising competitive pressures in UK and Europe are more concerning," Morgan Stanley says in a note

** Competitive threats make a 15 pct ROCE target appear unachievable, brokerage adds

(Reuters Messanging: aniruddha.c.thomsonreuters.com@reuters.net)