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BUZZ-EasyJet: Extends losses as brokers weigh in

Reuters - UK Focus

** Shares (Berlin: DI6.BE - news) of lowcost carrier extend Tuesday's losses as brokers weigh in on bigger than expected H1 loss

** Shares down 1.3 pct near bottom of FTSE 100 after at least 3 brokers cut rating by 1 notch

** SocGen (Paris: FR0000130809 - news) and Canaccord Genuity (Frankfurt: A0B6V4 - news) both cut to "sell" from "hold" while Kepler Cheuvreux cuts to "hold" from "buy"

** SocGen says co will find it difficult to generate profitable growth going forward

** Canaccord & Kepler Cheuvreux point to the strong share price performance over past couple of mths (gains c. +30 pct since late Feb) and raise PTs (Other OTC: PTSH - news) by c. 7 pct to 1,076p and 1,300p respectively

** Kepler says upside potential is now limited (7 pct), warranting the downgrade

** Easyjet H1 headline loss before tax amounts to GBP 212 mln vs avg analyst estimate of GBP 195.75 mln in Reuters poll