Morgan Stanley downgraded Thyssenkrupp (TKAMY) to Underweight from Equal Weight with a price target of EUR 6.60, up from EUR 3.90. The shares are now trading at a premium to the sum-of-the-parts, driven higher by heightened optimism around German defense and infrastructure spending, the analyst tells investors in a research note. The firm sees a “stretched valuation” at current levels.
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Read More on TKAMY:
- Thyssenkrupp price target raised to EUR 6.50 from EUR 4.10 at JPMorgan
- Thyssenkrupp price target raised to EUR 8.50 from EUR 5.50 at Citi
- Thyssenkrupp price target raised to EUR 4.90 from EUR 4 at Barclays
- Thyssenkrupp upgraded to Buy from Hold at DZ Bank
- Thyssenkrupp AG Earnings Call: Mixed Sentiments Amid Growth
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