BUZZ-Domino's Pizza: bottom of FTSE 250 in volume after Berenberg downgrades

** Domino's Pizza, down 3.2% in choppy trade & at lowest levels since Feb 2016 in volume

** Bottom of FTSE 250 and second top faller on Stoxx 600 after Berenberg cuts to "hold" from "buy", slashes PT to 325p from 400p

** Berenberg says revenue growth momentum slowed at the start of 2017, with some drags having the potential to become longer-term problems

** Broker says Domino’s reaped benefit of the market shift to online ordering but new players are changing the dynamics and co is currently proving slow to react; cites slow roll-out of GPS tracking system across the whole estate

** Berenberg adds food price inflation will likely squeeze franchisee margins this year

** Broker also cites weak consumer environment as one of the reasons for low LFL growth at the start of 2017; cuts 2017E UK LFL growth forecast to 1.5%

** Earlier this week, Investec (LSE: INVP.L - news) started with "sell" rating, saying higher discounts, competition, new store cannibalisation will be putting pressure on LFL growth

** Co, in March, reported lower-than-expected LFL sales in the UK for the first nine weeks of 2017

** Share (LSE: SHRE.L - news) down by about a fifth YTD

** Second most actively traded UK midcap stock on Friday (rahul.b.thomsonreuters.com@reuters.net)