BUZZ-Ashtead: Bottom of the FTSE after Exane cuts to "neutral"

Thu Dec 3, 2015 3:37am EST
 
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** Equipment hire group Ashtead's shares down 2.4 pct, bottom of the FTSE 100, after Exane BNP Paribas analysts cut rating on co to "neutral" from "outperform", PT to 1100p

** Analysts say risk/reward on co is increasingly asymmetrically skewed to the downside

** Exane says downgrade follows re-evaluation of assumptions as duration of economic cycle is becoming blurred; brokerage's economics team forecasts recession in 2H17

** Shares third-largest losers on the Stoxx 600 and bottom of Stoxx 600 Industrial Goods and Services Index

** Fall breaks 6-day winning streak for stock (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)