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BUZZ-Johnson Matthey: dented by PT cut from top-flight analyst

Thu, 04th Feb 2016 09:36

** Johnson Matthey down <1 pct & underperforming apositive FTSE 100 despite platinum climbing tohighest in 1 mth

** Exane BNP Paribas - rated at five stars forrecommendation accuracy on JMAT, according to StarMine - citesrisk to co's resilient refinery catalysts business from loweroil production & less favourable crude mix

** Cuts TP on stock to 2500p from 2700p (vs analysts' medianPT of 3380p); keeps "neutral" rating; no negative ratings onstock which has 7 "buy" or higher recommendations & 7 "hold", TRdata shows

** Move comes day after co keeps FY outlook in face ofchallenging Q3, continuing commodity price rout & weaker China (RM: esha.vaish.thomsonreuters.com@reuters.net)

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