Shares in online shopping service Ocado tumbled by more than 6% after JPMorgan Cazenove downgraded its rating for the shares and J Sainsbury hired the group's head of retail.
Ocado's shares were trading 12.70p lower at 182.5 after JPMorgan downgraded its rating on the online retailer to "neutral" from "outperform".
Separately, Sainsbury's said it had hired Jon Rudoe, Ocado's head of retail, responsible for marketing, website and products, to be director of its online business.
In a note, JPMorgan analysts said: "We remain bullish on the longer term Ocado investment case, but with a lack of visability on the roll out of non-food internationalisation and/or future licensing, our new target price provides insufficient upside to warrant an overweight rating on an 18-month view at this juncture."
