BUZZ-Petrofac: falls on Deutsche downgrade
** Energy services company Petrofac down c.3 pct, one of the worst performers among UK mid-caps
** Deutsche Bank (Xetra: 514000 - news) cuts TP to 875p; downgrades to "sell" from "hold"
** Analyst casts doubt on hopes that engineering and construction (E&C) is past the worse and co is entering a period of backlog-led profit growth.
** Brokerage revised its FY15-17E earnings forecasts to reflect lower E&C revenue growth assumptions
** Of the 18 analysts covering the company, 7 have a "hold" rating, 7 rate it a "buy", 3 rate it a "sell" while 1 recommend it a "strong buy" (Reuters Messaging: aastha.agnihotri.thomsonreuters.com@reuters.net)