Neste downgraded to Underweight from Overweight at JPMorgan

JPMorgan double downgraded Neste to Underweight from Overweight with a price target of EUR 20, down from EUR 35. The company’s’ operational underperformance and a deferred sustainable aviation ramp leave definitive renewable margin inflection heavily reliant on macro recovery, which has become highly uncertain in quantum and timing, the analyst tells investors in a research note.