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.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.