Alfa Laval: shares jump on broker's 'double upgrade.'
(CercleFinance.com) - Alfa Laval shares are up 3 percent on Thursday after Morgan Stanley said it had "double upgraded" the stock from "underweight" to "overweight.
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The broker, which has also raised its target price for the stock from 176 Swedish kronor to 207 Swedish kronor, said the engineering group's energy and marine divisions are likely to benefit from a stronger environment in 2018.
"Although we have been cautious (preferring Wartsila), the shares may yet have further to run," Morgan Stanley writes in a note sent to clients.
Shares of Alfa Laval, which have risen by almost 20% this year, are currently up 3% at 180.5 Swedish kronor in mid-afternoon trading on the Nasdaq Nordic.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
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The broker, which has also raised its target price for the stock from 176 Swedish kronor to 207 Swedish kronor, said the engineering group's energy and marine divisions are likely to benefit from a stronger environment in 2018.
"Although we have been cautious (preferring Wartsila), the shares may yet have further to run," Morgan Stanley writes in a note sent to clients.
Shares of Alfa Laval, which have risen by almost 20% this year, are currently up 3% at 180.5 Swedish kronor in mid-afternoon trading on the Nasdaq Nordic.
Copyright (c) 2017 CercleFinance.com. All rights reserved.