By Daniela Silberstein
Oct. 1 (Bloomberg) -- Hennes & Mauritz AB was downgraded by analysts after Europe's second-biggest clothes retailer yesterday reported third-quarter earnings that fell short of analysts' estimates.
Citigroup Inc. cut its recommendation on the shares to ``neutral'' from ``buy,'' while UBS AG lowered its rating to ``sell'' from ``neutral'' and Societe Generale SA downgraded the stock to ``sell'' from ``buy.''
The shares slumped 30 kronor, or 9.7 percent, to 278 kronor in Stockholm trading yesterday.
To contact the reporter on this story: Daniela Silberstein in Zurich at dsilberstei2@bloomberg.net.
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