Weir Group downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley downgraded Weir Group (WEGRY) to Equal Weight from Overweight with a price target of 2,570 GBp, down from 2,660 GBp. While tariffs have increased the uncertainty for the European capital goods sector, the aftermarket mining businesses are “relatively well sheltered,” the analyst tells investors in a research note. Sandvik is now the firm’s preferred play within the segment. It cites a lack of catalysts for the downgrade of Weir Group.