Edag: Two Strong Years Ahead: MS ups to "overweight"
12/05/2021 12:20
** Morgan Stanley ups Germany's EDAG ED4.DE to
"overweight" from "equal-weight", saying it sees two strong
years ahead of the automotive engineering services provider
** MS adds shares in EDAG, whose clients include Volkswagen
VOWG_p.DE and BMW BMWG.DE , have underperformed so far this
year but made a quick recovery after Q1 results in early May
urn:newsml:reuters.com:*:nFWN2MT0ED
** EDAG shares, which are flat on Wednesday, have risen
over 9% post results, reducing year-to-date losses to just below
4%
** The company said on May 6 it expects a moderate increase
in 2021 sales compared to 2020 as the engineering service market
should significantly improve in H2 urn:newsml:reuters.com:*:nEQ5mxyqja
** Out of five analysts that cover EDAG, two rate it "strong
buy" or "buy" and one "hold"
((flora.gomez@thomsonreuters.com))