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BUZZ-Reckitt Benckiser: bottom of FTSE 100 after JPM TP cut

Reuters - UK Focus

** Reckitt Benckiser (Xetra: A0M1W6 - news) down 2.3 pct and bottom of FTSE 100

** JPMorgan (LSE: JPIU.L - news) cuts TP by 200p to 7,000p and lowers FY adj EPS estimate by about 2 pct after co reported weak like-for-like sales growth on Friday - prompting >9 pct on-the-day share price drop to lowest level in >3 years

** Beyond the negatives, Q1 also highlighted 'real' progress on the recovery story that should help rebuild confidence on the earnings potential - JP Morgan

** RB has fallen by more than a fifth YTD