Krispy Kreme down; J.P.Morgan downgrades to 'underweight'

** Shares of Krispy Kreme DNUT.O down 4.5% to $3.56 premarket

** J.P.Morgan downgrades stock to "underweight" from "neutral"; maintains PT at $3.73

** Brokerage says underlying U.S. business trends limit visibility of co's proposed turnaround plan

** Earlier this month, co posted wider-than-expected quarterly loss and announced turnaround plan focusing on re-franchising and driving return on invested capital

** Avg rating of 11 brokerages is "hold"; median PT is $5.27, as per data compiled by LSEG

** DNUT down 62.4% YTD