Calbee downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley downgraded Calbee (CBCFF) to Equal Weight from Overweight with a price target of 3,100 yen, down from 3,300 yen. The firm lowered its earnings forecasts to reflect higher-than-expected fixed-cost burdens at the Setouchi Hiroshima plant due to potato shortages, the analyst tells investors.