(Sharecast News) - Just Eat was under pressure on Monday as Peel Hunt cut the stock to 'sell' from 'buy' and slashed the price target to 520p from 950p, highlighting reports of a potential tie-up between Uber and Deliveroo."We postulate that the two of them (merged or otherwise, let's call them Uberoo), around the world, could create an Uberoo-esque wave that eventually sees the demise of Just Eat," it said.The brokerage, which has been a strong believer in Just Eat since 2013, said that both Uber and Deliveroo are capable of out-investing the company in delivery and are entering the more lucrative marketplace sector.Among the reasons for its downgrade, it cited Uber Eats' growing strength in the smartphone real estate, Deliveroo's deep pockets fuelling market share gains and the diminishing uniqueness of Just Eat's data.Peel Hunt also said that the third quarter is likely to have been a tough period for Just Eat."As well as it being a hot and dry, it had tough comps. For September 2018, we saw a similar trend. As the company has spoken about on a number of occasions, hot weather, whilst good for tourism, is not good for takeaways."We caveat that this only describes the UK, but, ostensibly, the summer has actually been hot for most. Given this, we are glad the company provides a lot more detail than it used to do at its 1Qs and 3Qs, allowing us to better understand any nuances."The brokerage downgraded its 2018-20 revenue forecast by around 6% and its EBITDA estimate by around 9%."Whilst trading at a 42% discount on 2020, it is also growing its EBITDA 48% slower, at lower and unpredictable margins, so we downgrade," it said.At 0930 BST, the shares were down 3.6% to 580.20p.