MS cuts VAT Group to 'equal-weight', sees better opportunities elsewhere

VAT AG

20/06/2024 07:51

** Morgan Stanley cuts Swiss industrial valves maker VAT
Group  VACN.S  to "equal-weight" from "overweight", citing
better opportunities elsewhere in the sector as stock's price is
approaching its PT of CHF 530
    ** Shares in VAT Group are seen down 1.75% in Julius Baer
pre-market trade
    ** The broker's FY 2025 EPS estimate is now in-line with
consensus, compared to January when MS was 20% ahead of the
Street, it says
    ** "Although we remain optimistic on the name, we see better
opportunities elsewhere," it says
    ** The brokerage says it prefers ASMI  ASMI.AS  over VAT, as
it sees a more immediate catalyst with next gen Gate-All Around
investments pick up in H2 2024


 (Reporting by Amir Orusov)
 ((Amir.orusov@thomsonreuters.com))