E.ON downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley downgraded E.ON (EONGY) to Equal Weight from Overweight with an unchanged price target of EUR 18. Shares have rallied 41% year-to-date and 29% in the last 12 months and while the stock “should remain a portfolio anchor,” the firm sees better risk/reward elsewhere for incremental buyers, the analyst tells investors.