UK's Morgan Advanced Materials falls after RBC cuts rating and PT

Morgan Advanced Materials

25/11/2025 08:56

** Shares of British chip parts supplier Morgan Advanced Materials MGAMM.L down 2.4% at 191p

** RBC downgrades stock to "sector perform" from "outperform", cuts PT to 210p from 250p

** Brokerage says tough trading highlighted in co's October profit warning provides a lower run rate of profitability into 2026

** However, there remains significant medium-term potential, and a December strategy event should highlight some of the opportunities with the strategic vision of new CEO Damien Caby, brokerage says

** December event should focus on increasing growth and further cost optimisation, but the market will likely wait for actual delivery of improvement, analysts at RBC say

** Including session moves, MGAMM down ~30% YTD

 (Reporting by Nithyashree R B in Bengaluru)

 ((NithyashreeRB@thomsonreuters.com))