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BUZZ-Weir: Canaccord cuts to "hold" as it sees flat 2016 results

Reuters - UK Focus

** Industrial engineering firm's shares down 0.6 pct, one of two FTSE 100 losers after Canaccord Genuity (Other OTC: CCORF - news) cuts rating to "hold" from "buy", PT to 1740p from 2200p

** Stock is underperforming Stoxx 600 Industrial Goods and Services Index, which is up 1.4 pct, in decent volumes

** Canaccord -- rated at four stars for recommendation accuracy by StarMine on Weir -- expect revenue and earnings to remain flat in 2016, prompting their PT cut; add that stock is unlikely to reach new PT in the short term (its Tuesday close was 1280p)

** Nomura analysts also cut PT, to 1315p from 1605p, after cutting their revenue and EPS forecasts, driven by the speed and magnitude of the decline in North American O&G business (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)