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STOCKS NEWS EUROPE-MTU seen down on SocGen downgrade -traders

Reuters - UK Focus

Shares in German aircraft engine maker MTU Aero Engines (Other OTC: MTUAY - news) are indicated to fall 1.5 percent, according to pre-market data, with traders pointing to a downgrade to "hold" from "buy" by Societe Generale (Paris: FR0000130809 - news) following the publication of MTU's fourth-quarter results.

MTU said on Tuesday that delivering costly new engines to meet a boom in orders for passenger jets will keep profits flat this year, before its more lucrative spare parts business benefits later this decade.

"We have cut our earnings forecasts for 2014 and 2015 by 14 and 19 percent, respectively, on the disappointing guidance," Societe Generale analyst Zafar Khan writes in a note.

Khan also cuts his target price on the stock to 65 from 80 euros.

Reuters messaging rm://maria.sheahan.thomsonreuters.com@reuters.net