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Jeronimo Martins: Morgan Stanley 'moving to the sidelines'.

(CercleFinance.com) - Morgan Stanley has downgraded the Jeronimo Martins stock from "overweight" to "equal weight," saying it would rather "move to the sidelines" at the share's current price.

The broker said it updated its estimates following recent FX movements and ahead of the group's third-quarter results, raising its target price from 15 euros to 16 euros giving implicit upside potential of just 1%, which has promted analysts to change their rating.

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