LondonMetric downgraded to Underweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Ana Escalante downgraded LondonMetric (LNSPF) to Underweight from Equal Weight with a 205 GBp price target The firm adjusted ratings in the European property space, saying real estate started outperforming only recently and investor positioning toward property stocks “has remained unusually light.” However, in a stagflation scenario, Morgan Stanley does not think the sector will “offer a place to hide.”