NEW YORK (dpa-AFX Broker) - The US investment bank Morgan Stanley has downgraded Encavis from "Equal-weight" to "Underweight" and left the price target at 12 euros. Utilities are likely to outperform the overall market in 2024, the industry experts wrote in an outlook for 2024 published on Monday, citing attractive valuations, further rising earnings expectations, defensive qualities, political support and the historically good run with falling bond yields. If, contrary to expectations, interest rates do rise, the defensive qualities will pay off in particular. However, Encavis, Endesa and ERG are comparatively at the bottom of the list. At Encavis, Harrison Williams emphasizes the cost burdens resulting from project takeovers./ag/gl

Publication of the original study: 11.12.2023 / 04:00 / GMT

First disclosure of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study