UK's Ocado slumps after brokerage downgrades stock
** Online grocer and technology group Ocado's OCDO.L shares drop 9.5% to 243.90 pence, at bottom of London's midcap index .FTMC
** Brokerage Bernstein downgrades company's shares to "underperform" from "outperform", cuts PT to 260p from 1000p
** Ocado needs to "consider its options" to go private in a grocery deal and reduce cash burn - brokerage
** Online demand has not bounced back after pandemic, delayed and paused partnerships with supermarket chains denting value - Bernstein
** "Liquidity challenge is real and significant with both existing debt refinancing and a need for more cash soon" - brokerage
** Stock on track to snap nine consecutive sessions of gains, if trend holds
** As of last close, stock down ~49% so far this year
Reporting by Prerna Bedi in Bengaluru
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