NEW YORK (dpa-AFX Broker) - U.S. investment bank Morgan Stanley upgraded Steico to "overweight" from "equal-weight," but lowered its price target to 45 euros from 53 euros. The time has come for an entry in the German building materials second-tier stock, analyst Manfredi Bizzarri wrote in a study presented on Friday. The headwinds remain cyclical and intense in terms of competition, but the phase of falling expectations should come to an end. Growth should pick up again, thanks to new capacity and market share gains with wood-based insulation materials./tih/ag

Original study publication date: 06/30/2023 / 04:00 / GMT

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

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