NN Group downgraded to Underweight from Equal Weight at Morgan Stanley

Morgan Stanley downgraded NN Group (NNGRY) to Underweight from Equal Weight with a price target of EUR 44, down from EUR 50. With most pricing and rate cycles having seemingly peaked, earnings expectations for the European insurance sector are now more likely skewed to the downside, the analyst tells investors in a research note. The firm also downgraded its industry view to In-Line from Attractive.