Morgan Stanley starts 'appropriately valued' Ariston at 'equal-weight'

Nibe

15/12/2022 14:03

** Morgan Stanley initiates Italian heating solutions group
Ariston Holding  ARIS.MI  with an "equal-weight" rating and a
target price of 10 euros ($10.66) vs 9.45 euros at last close
    ** It calls Ariston a heating pure play that investors will
compare with Sweden's Nibe  NIBEb.ST 
    ** "We think Ariston's growth potential, inclusive of all
heating products rather than just the faster-growing heat pump
segment, looks less appealing than Nibe's, but it is more
appropriately valued," the broker says
    ** Out of six analysts that cover Ariston, four rate the
stock "strong buy"/"buy" and ​two "hold" - Refinitiv data
    ** The stock is up 0.9% at 1343 GMT amid negative trading in
the broader market
($1 = 0.9382 euros)
 (Reporting by Alessandro Parodi)
 ((alessandro.parodi@thomsonreuters.com))