'More balanced risk-reward', MS cuts Aalberts to 'equal-weight'

Aalberts

03/12/2021 10:33

** Morgan Stanley downgrades Dutch manufacturer Aalberts
 AALB.AS  to "equal-weight" from "overweight", citing a more
balanced risk-reward
    ** The brokerage highlights the company's business model
offering sustainable growth and management's execution on
strategy, adding however, it sees limited near term upside and
catalysts
    ** "The shares have clearly outperformed YTD, up ~50% on an
absolute basis and ~30% vs SXNP (STOXX industrial goods index)
and construction-exposed names," it points out, suggesting
profit taking after "a strong run"
    ** MS says it would revisit its thesis if new catalysts
emerge
    ** Aalberts' stock is down 3.5% by 0922 GMT
    ** Out of five analysts that cover the company, two rate the
stock "strong buy" or "buy"​ and three rate it "hold"

 (Reporting by Clement Martinot)
 ((Clement.martinot@tr.com))