BUZZ-Marks and Spencer: Brokers cut ratings after turnaround plan

** Retailer Marks and Spencer's shares down 0.9 pct,vs a marginally higher FTSE, as brokerages cut ratings,PTs on stock a day after CEO Rowe unveiled turnaround plan

** Jefferies, Exane BNP Paribas cut rating to"underperform", at least five other brokerages cut PT

** Shares fell 10.2 pct on Wednesday when co's CEO warned ofa short-term profit hit as it attempts to revive its clothingbusiness

** "We believe the cost of achieving this, combined withmacro and competitive headwinds, renders M&S unappealing fornow," Jefferies analysts write

** Goldman Sachs analysts reiterate "sell" rating, cut PT to350p from 380p, citing stalled earnings outlook stemming frompersisting declines in store-based LFL

** A third of co's 30-day avg vols gone through in the firsthalf-hour of trade; stock underperforming a 0.2 pct rise in theStoxx 600 Retail Index (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)