Evolution AB downgraded to Underweight from Overweight at Barclays

Barclays double downgraded Evolution AB (EVGGF) to Underweight from Overweight with a price target of SEK 575, down from SEK 890. The firm now sees further pressure to the company’s earnings from a weaker Asia recovery, North America underperformance and “sluggish” margins. Evolution’s valuation does not adequately reflect its slower growth profile and heightened regulatory risk relative to peers, the analyst tells investors in a research note.