BUZZ-GKN: Brokerages cut PTs on bleak forecast

** British engineering group GKN -1.6 pct, among top losers on the UK blue chip index

** At least 3 brokerages cut PTs (Other OTC: PTSH - news) on stock after co's profit warning on Friday

** GKN (Frankfurt: 694194 - news) warned on Friday its annual profit would fall short of expectations, blaming disappointing aerospace trading and two external claims that were expected to cost the British engineering company $53 mln

** Barclays (LSE: BARC.L - news) cuts PT to 370p from 390p; says execution has been a prolonged challenge and is worse than thought, and with the 'new' management team internally appointed, there is no catalyst to make the necessary improvements

** JPMorgan (LSE: JPIU.L - news) cuts PT to 378p from 428p; says until there is a greater clarity on the one-off claims and there is evidence of progress on improving margins, expect the share price performance to be subdued

** SocGen (Paris: FR0000130809 - news) cuts PT to 350p, cuts rating to "hold" from "buy"; says profit warning suggests issues at aerospace and driveline businesses could contibue to weigh on margins and earnings momentum in 2018