BUZZ-UK's JD Sports falls on PT cut and downgrade

Shares of British sportswear retailer JD sports JD.L down 2.3% at 81.1p - the top pct. loser on FTSE 100 index .FTSE

Citi cuts PT to 95p from 150p, also downgrades stock to 'Neutral' from 'Buy'

Brokerage says it has updated estimates for the company following a soft peak trading report and annual profit forecast cut

"We assume the group will continue to remain highly disciplined on discounting, which should inevitably impact top line growth" - Citi

Citi forecasts revenue for FY25/FY26 to fall 1.1% to 4.4%

Also says due to the challenging market conditions, Citi does not expect JD's store growth targets to progress as rapidly as anticipated

Co's european peer Puma PUMG.DE also fell 15% after posting a Q4 sales and profit miss

JD fell about 15% YTD