Ingenico: Morgan Stanley downgrades 'Overweight' rating

(CercleFinance.com) - In a report about shares in the European technology sector Morgan Stanley has downgraded its "Overweight" recommendation on Ingenico to "Equal-weight", while nudging up its target price from 100 euros to 103 euros (current share price about 95 euros).


"With a macroeconomic environment that is still uncertain, we favour stocks with structural growth drivers that have valuation headroom," it says.

In its sector report, Morgan Stanley upgrades Adyen to "overweight" although downgrades its ratings on Hexagon to "weight online". Adyen, TeamViewer and STMicro are the broker's favorites ("top picks") for 2020.



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