Bank Polska downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Nida Iqbal downgraded Bank Polska Kasa Opieki (BKPKF) to Equal Weight from Overweight with a price target of PLN 177, down from PLN 200. The firm says that with faster and steeper rate cuts, it turns more selective on Central and Eastern Europe and Greek banks, favoring relative earnings momentum, and relatively lower valuation multiples