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INX:MS, Aug 23, 08:32 UTC

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Morgan Stanley Upgrades Altria On Better Price

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The cigarette business isn’t exactly smoking these days. And as investors have moved away from Big Tobacco, lowering share prices, one of the biggest cigarette companies has also broadened its product line beyond traditional cigarettes. And that makes the cheaper shares of Altria Group Inc. (NYSE: MO) worth a new look, Morgan Stanley said Friday in a note. Morgan Stanley’s Pamela Kaufman upgraded Altria from Underweight to Equal-weight with a $44 price target. Kaufman acknowledged things still don’t look great long-term for the tobacco industry. But investors have known that for some years, and Altria has underperformed the broader market considerably, with its shares down 5.7% year to date while the S&P 500 is up more than 16%. “We expect US cigarette volumes to remain under pressure ... but acknowledge that this has become part of the consensus view on the stock,” Kaufman wrote.

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Wednesday, August 21


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Stryker to participate in Morgan Stanley 17th Annual Global Healthcare Conference NYSE:SYK

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Stryker to participate in Morgan Stanley 17th Annual Global Healthcare Conference. Kalamazoo, Michigan, Aug. 21, 2019 (GLOBE NEWSWIRE) -- Stryker (NYSE:SYK) ) will participate in the Morgan Stanley 17th Annual Global Healthcare Conference on Tuesday, September 10, 2019 at the Grand Hyatt New York. Kevin Lobo, Chairman and Chief Executive Officer, will represent the Company in a presentation scheduled for 8:35 a.m. Eastern Time. Stryker is one of the world’s leading medical technology companies and, together with its customers, is driven to make healthcare better.

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Morgan Stanley: Risk of a global recession is 'high and rising'

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The downtrend in some global economies is becoming contagious as weakness in the manufacturing sector begins to spread, according to Morgan Stanley, which warned clients that "the wheels for a slowdown are in motion." "Even as we have been revising our growth projections lower, we continue to highlight that the risks remain decidedly skewed to the downside," Chetan Ahya, the bank's chief economist, warned in a note published Tuesday. "We expect that if trade tensions escalate further ... we will enter into a global recession (i.e., global growth below 2.5%Y) in three quarters." Ahya highlighted the "significant loss of momentum" in payrolls data in the past seven months, falling to 141,000 on a six-month moving average in July from 234,000 in January. But recent manufacturing barometers have also been of concern.

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Monday, August 19


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Morgan Stanley Upgrades CNH Industrial, Likes Margin Opportunity

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A new CEO bent on cutting costs and expectations for new margin targets at an upcoming analyst day led Morgan Stanley to upgrade agriculture equipment company CNH Industrial NV (NYSE: CNHI). Yakavonis said the company has underperformed sector peers by 19% year to date and said Morgan Stanley thinks the company’s narrative is moving toward margin improvement and structural earnings upside. Morgan Stanley will be looking for more evidence that at an upcoming analyst day, that Yakavonis said could be a positive catalyst for share price. CNH’s first-year CEO Hubertus Mühlhäuser helped grow EBITDA at his former company by about 20% despite a sales decline and Yakavonis expects similar cost cutting success at CNH.

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ril: Rebalancing refining market, faster asset monetisation to drive RIL upside: Morgan Stanley

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New Delhi: Reliance Industries' faster asset monetisation, together with the rebalancing of oil refining market and cheaper feedstock, could help drive upside in company's price-to-earnings (PE) ratio, Morgan Stanley said in a report. Including Reliance Industries (RIL) in its 'Three in Three' report for Asia Pacific, the brokerage firm upgraded the company stock to 'overweight'. "P/B (price-to-book) valuations are near 20-year average on below mid-cycle margins – compelling, in our view, as supply-side rebalancing helps refining markets improve, significant fall in costs of feedstock like ethane reduces challenges for RIL's petrochemical division, and downside risks ease in the aromatic value chain," it said. "Overall, committed asset sales account for about 38 per cent of RIL's net debt plus liabilities," it said.

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Thursday, August 15


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Zimmer Biomet Holdings to Present at Morgan Stanley 17th Annual Global Healthcare Conference

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WARSAW, Ind., Aug. 15, 2019 /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global leader in musculoskeletal healthcare, will participate in the Morgan Stanley 17th Annual Global Healthcare Conference at the Grand Hyatt Hotel in New York City. Bryan Hanson, President and Chief Executive Officer and Suky Upadhyay, Executive Vice President and Chief Financial Officer, will present for the company on Tuesday, September 10, 2019, at 11:10 a.m. Eastern Time. A live webcast of the presentation can be accessed via Zimmer Biomet's Investor Relations website at https://investor.zimmerbiomet.com. We have operations in more than 25 countries around the world and sell products in more than 100 countries. For more information, visit www.zimmerbiomet.com, or follow Zimmer Biomet on Twitter at www.twitter.com/zimmerbiomet.

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Monday, August 12


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Morgan Stanley analysts say Fed to cut U.S. rates in September

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Morgan Stanley analysts say Fed to cut U.S. rates in September. FILE PHOTO: A sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018. (Reuters) - Morgan Stanley (MS.N) analysts said on Monday that they now expect the U.S. Federal Reserve to cut rates in September and then again in October. "Trade's 'simmer' has begun to boil, business sentiment and capex (capital expenditures) have softened further, global growth remains weak and inflation expectations have fallen," while the gap between 3-month US3MT=RR and 10-year U.S. government bonds US10YT=RR points to overly restrictive monetary policy, the investment bank's analysts said in a note.

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Thursday, August 08


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Morgan Stanley Upgrades Foot Locker On Valuation, Q2 Print May Support Shares

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Morgan Stanley Upgrades Foot Locker On Valuation, Q2 Print May Support Shares. The risk to Foot Locker, Inc’s (NYSE: FL) revenue and EBIT margin seem priced in, following the massive year-to-date pullback in its share price, according to Morgan Stanley. The trend of consumers shifting to shopping directly with brands has put Foot Locker’s revenue and EBIT margin at risk, Cassel said. “We continue to prefer brands over retailers, and our AlphaWise survey results suggest Foot Locker, among others, continue to lose traction in an increasingly direct-to-consumer (DTC) world,” the analyst wrote in a note.

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Morgan Stanley Upgrades Mondelez On Improved Top-Line Growth Outlook

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Morgan Stanley Upgrades Mondelez On Improved Top-Line Growth Outlook. Despite having appreciated by around 21% over the past year, Mondelez International Inc’s (NASDAQ: MDLZ) stock offers “a compelling opportunity,” given the company’s positive strategy changes, pending reinvestment and favorable geographic and category growth footprint, according to Morgan Stanley. Morgan Stanley’s Dara Mohsenian upgraded Mondelez from Equal-Weight to Overweight, leaving the price target unchanged at $62. Mondelez's stock continues to trade at a significant discount to its multinational large-cap peers, despite the company generating similar topline and EPS growth, Mohsenian said in the note.

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Wednesday, August 07


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