MS cuts VAT Group to 'underweight' citing deterioration in Memory markets

VAT AG

20/09/2024 08:55

** Morgan Stanley cuts Swiss industrial valves maker VAT
Group  VACN.S  to "underweight" from "equal-weight" citing its
relative exposure to Memory end markets
    ** The broker sees a deterioration in the Dynamic Random
Access Memory (DRAM) pricing environment, which is "historically
a good predictor of the stock's valuation"
    ** "We expect a long awaited NAND recovery to be pushed
out," MS adds
    ** The stock is down 3.5%
    ** Out of 16 analysts, four rate the stock "strong buy" or
"buy,"​ eleven rate it "hold" and one "sell"

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))