Philips: hit by a broker downgrade

(CercleFinance.com) - The medical electronics group Philips shares are down over 4% in Amsterdam today, weighed on by UBS downgrading the share from "neutral" to "sell", while trimming its target price for them from 13.
4 euros to 13.2 euros.

"Recent outperformance looks overdone upon further testing analysis and earnings revisions", the broker says, which therefore considers the share's risk/return ratio "unfavourable".


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