 London Stock Exchange PLC shares fell 3.6 as UBS cut its price target to 85 and took the stock off its buy list. The broker said its view on the company has improved in recent months but the downgrade reflects: 1 reduced earnings forecasts due to the rise in sterling; 2 the shares are trading at the upper end of its 18 month trading range of 70-85; and 3 the upcoming stock overhang as the lock-ups on the 35 stake held by BlackstoneThomson Reuters begin to unlock. 