Morgan Stanley downgraded Michelin (MGDDY) to Equal Weight from Overweight with a price target of EUR 30, down from EUR 31. The firm sees a balanced risk/reward with the stock’s multiples above historical levels.
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Read More on MGDDY:
- Jefferies flips ratings of Continental, Pirelli
- Michelin price target lowered to EUR 27 from EUR 30 at JPMorgan
- Michelin price target lowered to EUR 31 from EUR 37 at Morgan Stanley
- Michelin price target lowered to EUR 32 from EUR 36 at Citi
- Michelin price target lowered to EUR 31 from EUR 37 at Deutsche Bank