European analysts downgrade IMI, Porsche Holding; rate Barratt Redrow 'hold'

Exane BNP Paribas cut IMI to "neutral" from "outperform", citing weaker net income growth and full valuation. Kepler Cheuvreux downgraded Porsche Holding to "reduce" from "hold" due to deleveraging and diversification constraints. Peel Hunt cut Barratt Redrow to "hold" from "add" amid challenging UK housing market conditions.