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Philips: UBS upgrades stock

( - UBS has upgraded its rating on Philips shares from "sell" to "neutral", nudging up its corresponding target price from 16 euros to 16.
4 euros, with the latter pretty much in line with the last closing price of the Dutch medical technology group's shares.

In its comments, the broker highlights expectations that "better match reality", with a change in market narrative to include litigation and FDA risks and a re-rating.

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