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BUZZ-Weir: Heavyweights downgrade as margins pressure to hurt FY

Reuters - UK Focus

** Weir down c. 1.6 pct & 3rd top loser on FTSE-100 after at least 4 heavyweight brokerages cut TP on stock a day after co posts huge slump in H1 PBT

** Valve and pump market cites slump in U.S. oil and gas drilling activity as reason as cautions on H2 margins, leading brokerages to downgrade FY expectations

** Analysts on an avg expect FY PBT of c.259 mln stg on revenue of 1.9 bln stg according to Thomson Reuters (Dusseldorf: TOC.DU - news) SmartEstimates

** SocGen (Paris: FR0000130809 - news) cuts to 1600p from 1750p, HSBC to 1700p from 1900p, Citigroup (NYSE: C - news) moves to 1950p from 2200p & Goldman Sachs to 1950p from 2000p

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** 5 of 22 brokerages rate the stock "buy" or higher, 12 "hold" and 5 "sell" or lower; their median PT is 1800p, according to Reuters data

** Stock top loser among peers on FTSE-359 Industrial Engineeering Index (RM (LSE: RM.L - news) : esha.vaish.thomsonreuters.com@reuters.net)