BUZZ — Schneider Electric top loser on CAC 40, sheds $29.2 billion in value after PTC deal

(Updates) * Schneider Electric's shares fall 4.2%, extending losses since announcing $22.6 billion acquisition of US software firm PTC * Stock worst performer on blue-chip CAC 40, which is up 0.8% * About €26 billion ($29.22 billion) wiped off group's market value in two sessions, roughly equivalent to the deal price * J.P.Morgan downgrades French energy management and automation group to "neutral" from "overweight", saying acquisition shifts investment case towards industrial automation * Brokerage says allocating capital to the fundamentally less attractive automation business weighs on stock's target valuation multiple, despite PTC being a quality asset * Flags investor questions around planned equity raise; says Schneider's target of €800 million ($897 million) in annualised revenue synergies appears somewhat ambitious ($1 = 0.8898 euros) (Reporting by Hugo Lhomedet) ((hugo.lhomedet@thomsonreuters.com)