Leonardo downgraded to Hold from Buy at Jefferies

Jefferies downgraded Leonardo (FINMY) to Hold from Buy with a price target of EUR 62, down from EUR 68. The move towards an opening of the Strait of Hormuz gave some respite to civil names, yet as the situation is likely to remain volatile, the firm is taking a more cautious view on aftermarket plays, expecting negative newsflow on air traffic demand, limiting aftermarket growth, the analyst tells investors in a research note.