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EDP: shares fall after cautious broker comments.

( - Shares in Portuguese power utility Energias de Portugal are down 2.
2% at 3.1 euros today, witht the stock the sharpest faller on Lisbon's PSI index, after Morgan Stanley cut its target price from 3.4 euros to 3.3 euros, while maintaining its "equal weight" rating.

In a research note, the broker says 2018 is shaping up to be a "difficult year" for EDP.

"Regulatory decision may trigger earnings downgrades, weighing on EDP share performance over the next weeks," Morgan Stanley warns in a report.

"Tariff decision on 13-16 October will be a key catalyst - likely negative, we think - for the stock," it adds.

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