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Investing.com - Morgan Stanley downgraded Hugel Inc. (KS:145020) from Overweight to Equalweight and lowered its price target to KRW375,000.00 from KRW444,000.00.
The downgrade reflects Morgan Stanley’s concerns about increased competition in toxin markets in Korea and some emerging countries, which could affect the company’s long-term outlook.
Morgan Stanley noted that while toxin product sales will likely grow in major countries such as the United States and China, sales in Korea and some emerging countries will likely slow.
The new price target represents a reduction of approximately 15.5% from the previous target of KRW444,000.00 set by the investment bank.
The rating change from Overweight to Equalweight signals a shift in Morgan Stanley’s view of Hugel’s potential performance relative to the sector average over the next 12-18 months.
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