Morgan Stanley downgraded Neste (NTOIY) to Equal Weight from Overweight with a price target of EUR 18, down from EUR 23.20. Q3 results “once again” highlighted higher than expected weakness in macro factors and lower than expected SAF demand uplift, says the analyst, who acknowledges “our call on Neste has not worked,” due to the worse underlying macro environment, lower voluntary SAF demand and premiums, and longer than anticipated operational and strategic uncertainty.
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Read More on NTOIY:
- Neste price target lowered to EUR 19 from EUR 21 at RBC Capital
- NTOIY Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Equinor upgraded to Equal Weight from Underweight at Morgan Stanley
- Neste price target lowered to EUR 18 from EUR 20 at JPMorgan
- Neste upgraded to Buy from Hold at SEB Equities
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