Morgan Stanley
Fernando Amaral
Overweight -> Equal Weight
downgrade
Reason
Morgan Stanley analyst Fernando Amaral downgraded Edenor to Equal Weight from Overweight with a price target of $36, down from $52. The firm cites the stock's uncompelling valuation, lingering regulatory headwinds, and distant company-specific catalysts amid "worse-than-expected regulation", the analyst tells investors in a research note. Argentina macroeconomic changes remain fluid, but the firm prefers to wait for "higher visibility" from the sidelines, Morgan Stanley added.
